Exploring the Implementation of Hierarchical Deterministic Wallets in Organizational Settings

Abstract

Several studies have delved into technical aspects of Hierarchical Deterministic wallets. However, there is yet research regarding its use in organizations. This study aims to explore various aspects of HD wallets in organizational settings. Exploring technical requirements for implementation, benefits and risks of adoption for organizations, and adoption recommendations. The data will be gathered through a systematic literature review, utilizing specific coding forms to extract information from different literatures. Furthermore, an experimental implementation for gathering information regarding technical requirements of HD wallets. The results of the review aim to answer the research questions constructed prior to the start of the research, covering the possible benefits and risks of adopting HD wallets, technical specifications, and considerations of adoption. In the end, a literature review was conducted on 18 literatures, and an implementation was created uncovering information regarding technical aspects of implementing HD wallets, such as access control, key management, data transmission, and more. The findings provided information regarding the requirements and considerations relating to the implementation and adoption of HD wallets. Providing several recommendations for organizations looking to adopt HD wallets, such as conducting regular security audits, human factors, and key management practices.