Reference is now made to FIG. 5, which shows a flowchart for method of verifying that an encrypted cryptographic private key associated with a blockchain based computer network can be decrypted, according to some embodiments. At least one pair of a recovery public key 204 and a recovery private key 205 may be generated 501, for instance by at least one first computing device 210. At least a portion of a cryptographic key 206 of the computer network 201 may be encrypted 502 with the recovery public key 204, for instance by at least one first computing device 210. In some embodiments, the encryption is carried out using an homomorphically additive encryption scheme (e.g., using ElGamal encryption).