ETSI has just released ETSI GR IPE 012, a new IPv6 Enhanced innovation (IPE) Group Report “IPv6-based Blockchain”. The report outlines how IPv6 can be utilized by blockchain networks to secure direct peer-to-peer payments between end users, as well as the potential future role of IPv6 as vital infrastructure supporting the blockchain.

You can find the report here: ETSI GR IPE 012

In 2008, Bitcoin created a breakthrough in peer-to-peer electronic cash and payments. This paradigm enabled payments to be sent inexpensively over the Internet, allowing peers to use IP addresses to communicate and complete transactions directly between one another via the blockchain.Despite its potential, this mechanism for direct payments using IP addresses was later deprecated due to the high risk of cyber attacks and hacking that were associated with the IPv4-based Internet infrastructure at the time.

In this report, the model for peer-to-peer blockchain payments is revisited in the context of modern Internet protocols, such as DNSSEC and IPv6. An outline is provided, examining how direct online payments could be reintroduced into the blockchain ecosystem by leveraging these secure modern technologies. In particular, the report outlines key management strategies that can be used to link IPv6 addresses with blockchain payments, facilitating both online and offline exchanges of value.The report further details a variety of applications that can be supported by the integration of IPv6 and cryptographically generated addresses (CGA) with blockchain. An example of this would be an on-chain private IP-to-IP messaging application.

If you want to be part of the next report on this issue or you want to apply for your organization to become a member of ITS, don’t hesitate to get in contact with us here!