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IOT- & Blockchain-Enabled Security Framework for New Generation Critical Cyber-Physical Systems In Finance Sector

IOT- & Blockchain-Enabled Security Framework for New Generation Critical Cyber-Physical Systems In Finance Sector

Objective

Irregular and unaccountable transactions, cyber threats, non-user-friendly inefficient or impractical banking processes, complex contracting procedures and cumbersome financial market and insurance infrastructures constitute obstacles to European open market development. CRITICAL-CHAINS delivers a novel triangular accountability model and integrated framework supporting accountable, effective, accessible, fast, secure and privacy-preserving financial contracts and transactions to protect against illicit tranasctions, illegal money trafficking and fraud on FinTech e-operations. This is an innovative cloud-based “X-as-a Service” solution stack including several layers: 1) Data integrity checking by involving financial institutions in the distributed Blockchain network; 2) Transaction and financial data flows analytrics, modelling and mining; 3) Threat Intelligence & Predictive Modelling for Inter-Banks and Internet Banking, insurnace and financial market infrastructures; 4) Multilateral Biometric-based and Role-based Authorisation & Authentication; 5) Hardware Security Module (HSM) enabled Cyber-Physical Security, embedded systems & IoT security for secure access using Security-Privacy-Contexts Semantic Modelling; 6) Secure and smart use of Blockchain based on keyless signature infrastructure and hybrid (a)symmetric cryptography utilising truly random key generation. CRITICAL-CHAINS is to be validated within 4 case studies aligned with 3 critical sectors: banking, financial market infrastructures and the insurance sector. This will evaluate system reliability, usability, user-acceptance, social, privacy, ethical, environmental and legal compliance by scrutiny of the geo-political and legal framework bridging the European economy with the rest of the world. The Consortium respresents a strong chemistry of relevant expertise and an inclusive set of stakeholders comprising end-users (customers), CERTS, the financial sector (Banks & CCPs) and the Insurance sector

Coordinator

THE UNIVERSITY OF READING

Address

Whiteknights Campus Whiteknights House
Rg6 6ah Reading

United Kingdom

Activity type

Higher or Secondary Education Establishments

EU Contribution

€ 696 625

Participants (11)

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COMMISSARIAT A L ENERGIE ATOMIQUE ET AUX ENERGIES ALTERNATIVES

France

EU Contribution

€ 372 445

ERGUNLER INSAAT PETROL URUNLERI OTOMOTIV TEKSTIL MADENCILIK SU URUNLER SANAYI VE TICARET LIMITED STI.

Turkey

EU Contribution

€ 332 106,25

EY ADVISORY SPA

Italy

EU Contribution

€ 415 625

FRAUNHOFER GESELLSCHAFT ZUR FOERDERUNG DER ANGEWANDTEN FORSCHUNG E.V.

Germany

EU Contribution

€ 503 500

GUARDTIME AS

Estonia

EU Contribution

€ 234 396,75

STICHTING IMEC NEDERLAND

Netherlands

EU Contribution

€ 281 250

INDRA SISTEMAS SA

Spain

EU Contribution

€ 222 250

JOANNEUM RESEARCH FORSCHUNGSGESELLSCHAFT MBH

Austria

EU Contribution

€ 453 750

NETAS TELEKOMUNIKASYON ANONIM SIRKETI

Turkey

EU Contribution

€ 223 956,25

POSTE ITALIANE - SOCIETA PER AZIONI

Italy

EU Contribution

€ 249 375

RINA CONSULTING SPA

Italy

EU Contribution

€ 196 875

Project information

Grant agreement ID: 833326

Status

Grant agreement signed

  • Start date

    1 July 2019

  • End date

    30 June 2022

Funded under:

H2020-EU.3.7.6.

H2020-EU.3.7.4.

  • Overall budget:

    € 4 985 547,50

  • EU contribution

    € 4 182 154,25

Coordinated by:

THE UNIVERSITY OF READING

United Kingdom