Startup Trustology from former experts from BNY Mellon, RBS and Barclays should provide the most secure storage for the crypts, which will do even institutional investors. The first version of TrustVault is now available for download in the App Store. With it, users will be able to store the Ethereum directly in your smartphone. Bitcoin and tokens of the standard ERC-20 promise to add later.
Where you want to store cryptocurrency
We will remind, last year Trustology received about $ 8 million of funding. In the creation of start-up was attended by representatives of ConsenSys and Two Sigma Ventures.
Founder Trustology Alex Butlin calls TrustVault best way to store crypt.
If to mention about the smartphone, people associate it with a mobile app. Yes, it looks like a simple app, but it is hidden a lot of potential.
Due to technical features of TrustVault yet only implemented on the iPhone. According to Ballina device from Apple has the most suitable technical modules for the protection of scriptaction. Support for Android promise to add in the foreseeable future. Most likely, she will appear on a relatively fresh Google Pixel 3.
When you first launch the app, the user creates a private key inside the iPhone, then use the KYC procedure his personality is bound to privatekey. Note that this is not the same as the key by which funds are directly controlled by the user.
The next step is creating an account in the TrustVault, the request for registration is signed by the previously created key. Then you create another privatekey inside the HSM and a license file. From now on, according to Butlin, the public address of the user becomes the equivalent of his Bank account.
Development praised the ConsenSys founder Joseph Lubin. It is possible that it will attract large investors and the resulting impact on the price growth of the cryptocurrency.
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