Press release

Call for Experts for 3 New X9 Initiatives: Blockchain Report Audit Framework, “Secret Sharing” Standard, and Data Protection and Breach Notification Standard

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The Accredited Standards Committee X9 Inc. (X9)
today announced three new projects for which it seeks expert
participants: an effort to develop a framework of blockchain audit
guidelines, development of a new standard addressing the practice of
“secret sharing,” and creation of a new standard for processes to
protect data and report breaches. Potential contributors are invited to get
in touch with X9

Blockchain Report Audit Framework
Enterprise interest in
exploring and implementing private blockchain networks both globally and
in the U.S. appears to be strengthening. In financial services, audits
and assessments are basic and necessary functions, but there are no
guidelines that apply to blockchain reports. X9’s Blockchain Auditing
workgroup seeks professionals who have experience in blockchain,
security or auditing to create a framework of audit guidelines for
financial firms using private blockchain solutions, which will be
delivered as Technical Report 54. The group’s first meeting will be held
Wednesday, July 24, 12-1 p.m. Eastern time; interested parties may write
to for meeting
information. More details
are available
on the X9 website.

Secret Sharing Standard
Secret sharing schemes include
cryptographic methods for distributing a secret – such as a symmetric
key or asymmetric private key — among a group of participants, such
that no one person has access to the entire secret. Due to the lack of
standards, there are misconceptions and misinformation about secret
sharing methods and how to use them. This new standard, designated
X9.135, will provide valuable information to product manufacturers,
service providers (including cloud services) and end users attempting to
secure their cryptographic systems. Individuals with relevant expertise
are sought by X9’s Data and Information Security Subcommittee. More
is online.

Breach Notification and Protection Governance Standard
new standard, designated X9.141, will define requirements for data
protection and breach notification for the financial services industry.
This standard will apply to all organizations that handle sensitive
payment information, and it will provide a consistent breach
notification process to protect consumers and other stakeholders
nationwide. X9’s Cybersecurity and Cryptographic Solutions workgroup is
looking for individuals with technical knowledge in areas including
encryption, identity management, data privacy and data security to
assist in drafting the standard. Details can
be found
on the X9 website.

“These three new projects demonstrate the energy and range of ideas that
have surged from X9 members this spring, in a remarkable level of
activity and inspiration,” said X9 Executive Director Steve Stevens.
“All three initiatives will deliver valuable tools and guidance to the
financial services industry, and I urge all interested parties to learn
more and join
the work

About the Accredited Standards Committee X9 Inc.
Accredited Standards Committee X9 Inc. is a non-profit organization
accredited by the American National Standards Institute (ANSI) to
develop both national and international standards for the financial
services industry. X9 has over 100 member companies and over 400 company
representatives that work to develop and maintain approximately 100
domestic standards and 58 international standards.

The subjects of X9’s standards include: retail and mobile payments;
printing and processing of checks; corporate treasury functions; block
chain technology; processing of legal orders issued to financial
institutions; tracking of financial transactions and instruments;
tokenization of data at rest; quantum computing risk; data breach;
electronic contracts; and remittance data in business payments. X9
performs the secretariat
function, acts as the U.S. Technical Advisory Group, and provides the
committee chair for ISO TC68, which produces international standards for
the global financial services industry. X9 also acts as the U.S.
Technical Advisory Group for ISO TC322. For more information about X9
and its work, visit

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