Singapore University of Social Sciences
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From Distributing Trust to Distributing Responsibility: MPC Wallet for Digital Assets

May 29, 2023

The “From Distributing Trust to Distributing Responsibility: MPC Wallet for Digital Assets” panel discussion held on April 26, 2023, aims to explore how Multi-Party Computing (MPC) technology reshapes the trust system, what can be done to scale up MPC applications, and the risks associated with the use of MPC wallets.

Dr Ayo Akinyele from Bolt Labs, Shawn Lim from Artichoke Capital, and SUSS professor Prof David Lee Kuo Chuen had joined the discussion delving into the concept of MPC as a means to distribute responsibility and enhance the security of digital asset wallets.

What is Multi-Party Computing?

The discussion started with Dr Ayo Akinyele – a prominent figure in the field of cryptography and security – explaining Multi-Party Computing (MPC). MPC applications encompass various scenarios, but they all share a common objective – which is to perform computations involving private information from a group of individuals while ensuring the confidentiality of that information. This fascinating application enables the execution of computations that benefit a group of people while safeguarding the privacy of each individual’s data.

Custody-based digital assets are always known for its lack of security, and the demand for progressive security solutions has grown significantly with the increase of data distribution. However, meeting this pressing need has remained a challenge thus far.

MPC thus presents a progressive solution by securing assets right from the outset, offering distinct advantages such as flexibility in its usage, enabling diverse approaches to asset protection and utilization.

With the evolution of trust models in the digital asset space, Dr Ayo emphasised the need to move beyond trusting centralised entities, and towards distributing responsibility using MPC-based wallet solutions.

When it comes to online activities, Prof David Lee underpins the utmost importance of safeguarding data and privacy. Centralisation does offer efficiency, but by distributing data across multiple nodes, the barriers to hack into the system increases exponentially, which explains its security. Consequently, in the realm of Web3, prioritising efficiency takes a back seat since intentionally choosing less streamlined systems serves the purpose of increasing the cost associated with hacking.

In what ways does tokenisation alter the trust system?

Shawn highlighted the impact of Web3 in digitising social relationships, as well as tangible and intangible assets. This ongoing trend of digitalisation naturally paves the way for automation. However, the key challenge lies in effectively securing these digital assets.

Centralisation, with its inherent single-point failure risks, thus necessitates the exploration of alternative methods. Conversations with bankers and financial institutions had revealed that a significant portion of their time and resources are dedicated to guarding against hacking attempts. Eventually, there comes a point where a shift from centralised systems becomes imperative, and transitioning towards a distributed system becomes inevitable.

Nevertheless, there is still much work to be done. This is because even within the blockchain ecosystem itself – where everyone possesses a private key – the custody of those keys remains centralised.

And this is where MPC comes in, as it enables decentralisation not just at the ledger level but also at the wallet layer. At the user level, this enables individuals to have enhanced security and greater control over their digital assets.

Dr Ayo then proceeded to elaborate why financial institutions should seriously consider adopting MPC technology, and Shawn provided an additional perspective on its applicability in various industries. MPC facilitates the distribution of access control through diverse approaches. Irrespective of one’s location, access control can be distributed within the organisation. Furthermore, access control distribution can extend beyond the organisation itself, by engaging a third-party company. This distribution of trust, responsibility, and liability ultimately fosters a more robust and secure system, which substantially increases the level of complexity in hacking.

As we harness this technology to achieve positive outcomes, the question arises: What lies ahead for MPC and what are the future areas of research? Dr Ayo then further explained outlook of MPC, specifically focusing on its research potential and the impact it can have on society and business.


The significance of web3 technology in embracing the digital economy has become undeniable. Yet, it is highly important to take into account both the potential advantages and the inherent risks incorporating these technologies into our daily routines.

In conclusion, as we engage with technology that enhances convenience, we should first feel safe and secure using the technology, knowing that the responsibility and legal liability are distributed among accountable parties.

从分布式信任到分布式责任: 2023年4月26日举行的小组讨论旨在探讨多方计算(MPC)技术如何重塑信任体系,如何扩大MPC应用规模,以及使用MPC钱包的相关风险。

来自Bolt实验室的Dr Ayo Akinyele、Artichoke Capital的Shawn Lim和SUSS Professor David Lee Kuo Chuen也参与了此次小组讨论,深入探讨了MPC作为分配责任和加强数字资产钱包安全的手段的概念。


Dr Ayo,一位非常擅长密码学和安全领域的博士,解释了多方计算(MPC)。MPC应用包括各种情况,但它们都有一个共同的目标,那就是在确保信息保密的情况下,执行涉及一群人的私人信息的计算。这种迷人的应用使得执行有利于一群人的计算,但也同时保障了每个人的数据隐私。



随着数字资产领域信任模式的演变,Dr Ayo强调,有必要超越对集中式实体的信任,并使用基于MPC的钱包解决方案来分配责任。

在谈到在线活动时,Prof David Lee强调了保护数据和隐私的重要性。中心化确实提供了效率,但通过将数据分布在多个节点上,入侵系统的难度成倍增加,这也解释了其安全性。因此,在Web3领域,优先考虑效率是次要的,因为不太精简的系统本身就是为了增加黑客攻击的难度。






Dr Ayo接着阐述了为什么金融机构应该认真考虑采用MPC技术,Shawn还就其在各行业的适用性提供了一个额外的观点。MPC通过多样化的方法促进了访问控制的分布。无论一个人在什么地方,都可以在组织内分布。此外,访问控制的分布也可以通过雇佣第三方公司,超越组织本身。这种信任、责任和义务的分配最终促进了一个更强大、更安全的系统,这大大增加了损害最终资产访问的复杂性。

当我们利用这种技术来实现积极的结果时,问题就来了: MPC的未来是什么,未来的研究领域又会是什么?Dr Ayo随后进一步解释了MPC的前景,特别是其研究潜力和对社会和商业的影响。




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