Researchers unveil "blockchain without register" thought for central banks

South Korean researchers said they were working on a "blockchain without register", called "PureChain". They believe that it could help foster the emergence of digital currencies issued by central banks.

This research team announced a few days ago that it was working on a new technology, PureChain . The group includes representatives from the Korea Advanced Institute of Science and Technology , University Kyung Hee , society tech ICTK Holdings and the startup startup blockchain EpitomeCL .

According to the Korea Times , PureChain is a " blockchain not register " which implements physically nonclonable function ( PUF ). These " digital fingerprints " are used in particular to identify semiconductors.

The researchers indicated that UFPs would offer them the possibility of making peer-to-peer payments " through a consensus established between just two nodes ". This could allow them to radically reduce transaction time associated with blockchains that we know today.

They explained that these functions previously required, when used as keys in cryptographic algorithms, the use of " correcting codes " . However, they managed to do without:

" Purechain is the only PUF technology that does not need to use correcting codes - codes that have prevented the mass production of other types of UFPs, " said Sam Yu , CEO of ICTK Holdings. " The applications PUF extend the technology blockchain security of the Internet of Things, via the user verification process, and more ."

Developers have predicted that this technology could promote the introduction and adoption of digital currencies issued by central banks . They should thus offer nations that wish to digitize their national currency , in order to capitalize on the advantages offered by blockchain technology while keeping control of the money supply.

" This is a technology blockchain 'realistic', which can be applied to such currencies " commented Han Ho-hyeorn professor at Kyung Hee University.

But many gray areas remain. Regional media have thus not provide technical details about this " blockchain not register ," and do not have not indicated how PureChain managed to overcome these " correcting codes ".

It seems likely however that this technology, if it managed to keep its promises, would be likely to interest some central banks . Several of them have recently expressed their desire to eventually issue a centralized national digital currency, which could allow them to limit the production and use of cash.