UKISS Whitepaper ©2022 - Page 14

4.1

UKISS Hugware ® : The Revolutionary Wallet

The Hugware is a Singapore-designed hardware device that provides cold storage of private keys to crypto assets and DIDs ( more on our Self- Sovereign Identity and Security framework in Part I ).
How Hugware works : 1 . The Hugware comprises twin cryptographic devices that act as the Authentication- Key ( A-Key ) and Rescue-Key ( R-Key ), respectively .
2 . Since the A-Key protects the private key , crypto-users will only need to plug the A-Key into the computer when performing a transaction , saving them from revealing private keys to a network .
3 . If the user loses the A-Key , the user can replace it and sync it again with the R-Key , replacing the need for 24-word recovery phrases .
Suppose the user misplaces the R-Key password or PIN , UKISS is working with IBM to develop a semi-custodian service for $ KISS holders to access their R-Key password using biometric information . No risk is involved in this method since the device is still in the user ’ s possession .
Potential in DIDs and 2-FA Authentication
As previously mentioned , Hugware ’ s private key security protects a wide range of assets . They include Decentralised Identifiers ( DIDs ), which contain verifiable credentials like identification documents ( more about the UKISS Self- Sovereign Identity and Security framework in Part I ).
The Hugware ’ s potential as a DID wallet will allow IDs to be portable and verifiable across multiple blockchains and metaverse platforms – something that we believe will be in high demand as more venture into Web 3.0 .
Hugware ’ s ability to directly authenticate a person based on verifiable information could also potentially replace the traditional method of providing mobile numbers and email addresses for two-factor authentication on the internet .
Benefits of Hugware
• Easy plug-and-play device
• Safe and secure
• No 24-word recovery phrases
• Will be compatible with growing number of popular crypto wallets and cryptocurrencies
• Tamper-proof : Each device comes with a Certificate of Authenticity ( secured by GovTech ’ s OpenAttestation framework )
• Patented technology in over 20 countries and markets including China , Asia Pacific , the United States , and Europe .¹
UKISS expects the sale of each hardware device - priced at about US $ 150 * per set - to hit 1.5 million units in the next five years^ , racking up to more than US $ 200 million in average annual revenue . Initial Hugware buyers will receive $ KISS airdrops as rewards .
¹ Patent Numbers : US9684783B2 ( USA ), EP2997708B1 ( DE ), 11201509123S ( SG ), ZL201480028237.9 ( CN ), 26635 ( VN ), 12025502592 ( PH ) and more .
* Price of Hugware to be confirmed and announced nearer to launch . ^Estimation is based on 10 % of Potential Market Size ( refer to Page 24 ).
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