Intelligent CIO Europe Issue 02 | Page 88

INTELLIGENT BRANDS // Software for Business The Embedded Vault – the most secure cryptocurrency software wallet ///////////////////////////// E mbedded Downloads, the developer of the BitVault, the world’s first blockchain smartphone, has introduced what it calls: ‘The world’s most secure cryptocurrency software wallet’. With a unique interaction between hardware, encryption and blockchain technology, the company has created a solution that it believes can mitigate much of the risk of holding Bitcoin and other cryptocurrency without the need of purchasing additional hardware. Dynamic Key creation – your private keys are never stored You are in control of your private keys – you are the key • EOT Coin • EOT Token • As an additional security feature, all transactions are double-checked by a fingerprint scan of the user. • EOT (Encryption of Things) will be the cryptocurrency used as part of the key generation and encryption process. The development team are also in process of developing wallets for Bitcoin Cash, Ethereum and Waves. These will be made available via software updates as soon as they are complete. EOT Coin to Token Exchange What can the Embedded Vault do? Secure storage of your cryptocurrency. In the first release you will be able to store: • Bitcoin The Embedded Vault also provides a gateway that facilitate the exchange of EOT coins to EOT Tokens to enable trading of EOT on decentralised exchanges such as the Waves Platform. n The defining feature of this product is that the private keys are dynamically created by the user and these keys are NEVER STORED, either on a device or a third party server. How does it work? • Using your phone, PC and blockchain together, the Embedded Vault creates secure storage for your cryptocurrency and cryptography assets. • Biometric security is a further intricate part of the security and the dynamic key generation process. • To use the Embedded Vault, you need a smartphone with a fingerprint scanner as well as a PC or laptop. • A PC application and smartphone applications need to be downloaded. The PC application interacts with the phone over Bluetooth with an encrypted connection. • The ‘secret sauce’ of the Embedded Vault is that the keys are dynamically created with a combination of a cryptographic transaction, biometrics as well as other hardware and software input. 88 INTELLIGENTCIO www.intelligentcio.com