Understand ownership

A blockchain account, or so called « wallet » can be store in Business Central either Owned by the company, or by a third party such as Customer, Vendor or Employee.

• Third party : The address could be used as a transfer destination for the blockchain payment journal, and will trigger auxiliary accounting with the third party once the transaction is confirmed.
  This is typically used to pay a Vendor on the adress they shared with you, or refund a customer over payment.
  • The system automatically store customer address used to pay a crypto invoice, when Busienss Central manage to reconcile it properly.
    
• Owned : The company own the account assets, the private key is stored in Business central. This allow to send the funds to another blockchain address, using blockchain payment journal.
  The system shall also monitor incoming transaction for owned address and update balance.
  Reminder : Private key is the critical information Read more about how private keys are secured
  
• Owned (Exchange) : The address is managed through and exchange plateform such as CoinBase or Binance. This is typically helpful to use exchange deposit address to transfer the assets from Business Central, or use it as sales invoices address.

Randomly generate new wallet

The action « Generate new account » from the Blockchain network card, or Blockchain Accounts list, does create an new unique blockchain address associated with its private key.

The user running this action is associated as owner on the created account and can see the Private key.

Manual import

Use the « New » action on Blockchain Account List to manually create a blockchain wallet.

1. Select the blockchain network
2. Choose Ownership
   • Third party : Select the third party type, then the public account address.
     The system verify that the address match with selected blockchain network.
     
     
     
   • Owned : Set the public address then open the Private Key details and past the raw private key you have.
     The system will alway verify the matching of private and public key to validate the account, then encrypt the informations.
   • Owned (Exchange) : this won’t require to have the private key, as the account is managed by an Exchange such as Binance or CoinBase.
     
     

Open Private Key

Wallets private keys is sensitive information and shall be restricted as much as possible.

It can be restricted under Blockchain General Setup to Super user only, or Super user + created by user.
We also recommand to keep access from API disabled when you publish web services.

When using the Private key lookup action, the system verify user permissions and the coherence of the private key data. Passing thoses controls, a consent form show up :

Once the consent form is accepted, a second form open and show the private key field. An additional click on it decrypt the content and show the clear private key.

Every time an user open accept the consent form to open private key, the system log it under « Blockchain Private Key Access Log » :

Read more about how private keys are secured

Archive wallets

Accounts that are not used are mistakenly created can be archived. Account with private key that were used could not be delete in order to keep a trace of the private key in case funds were sent to it anyway.

Archived account are exluced of the regular Blockchain accounts list, and also excluded from background update to reduce system workload. As well they can also be restored using the « Unarchive » function from the page « Blockchain Archived Accounts List ».