The blockchain tide tides, rising and falling off all kinds of All flowers bloom together., bubble.
Bear, maybe we can see more clearly the block chain industry “true” demand: only the wallet, exchange, mine always exist; public chain struggling to development, large companies in the layout of the investment.
In the digital currency under the related industrial chain, especially cold wallet wallet slightly embarrassed: as the entrance of the times yet to come, the short term is the basic demand is difficult to find the profit model, and there are a lot of asset security issues. But the industry has changed recently, many traditional giants have started to pay attention to this market.
The first is to obtain financing Aegis Custody signature hardware wallet enterprise; February IBM announced the progress of IBM Cloud Hyper Protect series of cloud native service in the Think 2019 conference, the private cloud hardware security module (HSM) can be used to construct safety wallet.
At the same time, the Japanese financial holding company Nomura (Nomura), encrypted wallet manufacturer Ledger and management consulting firm Global Advisors announced the launch of digital assets hosting solutions Komainu.
All phenomena are that the B end market digital currency wallet began to rise.
Kuyt old enterprise digital asset cold wallet is one of the first block chain cold wallet enterprise, had to enter the B market positioning, asset security solutions provider. This year, Kuyt also launched in the face of enterprise customers multi signature encryption asset management system ColdLar Vault, the upcoming enterprise ColdLar Enterprise wallet.
Odaily Star daily interview with Kuyt CTO Ye Fei and product manager Huang Xinyu, to discuss the latest trends in the industry recently.
The new enterprise to be a professional team to provide asset security solutions
There is no doubt that the demand of industry growth in the end B wallet. Ye Fei said Kuyt is also based on customer demand, will launch this product. “The industry continues to develop, there will be more enterprises to enter the.” They believe that this will be a very big market.
Ye Fei said that bitcoin itself is a multi signature mechanism. This demand has always existed, but the development of the industry needs some audience base.
The blockchain boom in 2018, so that more outside of the circle of traditional enterprises pay attention to the asset block chain this technology and the encryption of money.
For a time, the surge in the project side, token fund exchange, circle mechanism, even the traditional financial institutions have begun to configure encryption assets. The project issued token exchange, grasp a large number of user charge in coins, token fund raised a lot of bitcoin and etheric Fang, asset security, encryption storage and management demand is expanding exponentially; traditional institutions, not to mention.
The B end of the company, has a natural flow, in addition to the exchange, the company management investment bank and capital, some companies bitcoin profit has exceeded the securities profit, because bitcoin fluctuates more. Senior investment manager, love this type of assets.” Huang Xinyu believes.
Prior to this, the block chain companies rarely, generally companies have their own wallet team, even the wild exchange with cold wallet as “personal accounts”. Before the foreign currency prices skyrocketing, the value of bitcoin is today with the clouds and mud. At that time, the whole industry can be said to be the security requirements of B terminal will not sustain an industry or a company. Now bitcoin prices soared, block chain technology gradually fall, more and more traditional enterprises entering, they on the internal business processes are more standardized.
“There were a lot of money lost early.” Ye Fei believes that with the development of the industry, more and more professional security team, the large-scale event lost coins have been reduced. Kuyt said that professional encryption asset trading platform, basically will use a combination of hot and cold storage solution that assets, encrypt the sending and receiving of business assets
hot wallet, hot wallet store for 5% assets (according to the degree of active adjustment), and the remaining assets will be placed in the cold wallet. Lost coins trading platform events are basically hot wallet stolen, which can reduce the risk.
At this time, the development of the industry to another stage: call for professional B financial management software was born.
Anonymous digital currency, more stringent requirements of internal management
Many large collaborative management of assets is the basic requirement of B encryption encryption currency financial system end.
Encryption currency anonymity and decentralized characteristics. Huang Xinyu therefore, need more money than the encryption currency internal risk control system, to avoid embezzlement or accident lost money. – this is the B end system signed more than two functions.
From the early events that death sparked controversy in Canada exchange Quadriga CX founder accident.
Founder and CEO, Gerald Cotton (Gerald Cotten) died suddenly during a visit to India. The platform management said CEO is the only know what is required to obtain these funds security key and password, and repeated search can not find and write down the mnemonic word. This leads to the user not to mention currency exchange platform, can not be returned, platform 115 thousand user accounts totaling 200 million US balance, including about $147 million encrypted digital currency.
Regardless of whether it is the management team to lie, let a single person to hold the assets of private key encryption itself is not appropriate. Once the holder of an accident, often lost property, multi sign is the standard way.
The fiat currency is not the real name, encryption.” Huang Xinyu said, after the financial swept encryption currency, law enforcement is difficult to track the flow of funds, but if it is legal tender, who opened the bank account with a bank, at a glance.
Multi sign system ColdLar Vault Kuyt launched, can according to different staff positions, the assets of large application and distribution of permissions, and use multi signature technology to ensure that assets is the real master in the hands of the management core.
According to Huang Xinyu introduction, ColdLar Vault the whole system consists of three parts: software management system at PC, mainly for the enterprise internal financial and cashier staff; the mobile terminal and cold wallet mainly to management by. If you want to use an encryption of funds, financial officers need to submit the application in the system, then the management will receive the application for review and in the mobile terminal, with cold wallet signature; if the approval of the majority of managers, the application can be through. The threshold can be set to 3/5 and 5/7, according to the number of management and. The system supports the mainstream currency specific network also provide customized services.
Kuyt believes that the product is unique in that the process control is tight. Ye Fei said that the reason is not more money lost events in technology but in the risk control process. “This set of sign system to control the process better, joined the trial personnel, when a transaction is required before the trial, and then have a final signature.”
Exchange, large-scale information management institutions, hosting Wallet / system platform, may need to address batch encryption management, sending and receiving of assets, and related financial services. Huang Xinyu said, Kuyt will also launch enterprise class Enterprise wallet ColdLar to solve these problems. The system can help enterprises to mass production and management of millions of addresses, real-time monitoring of address transactions (sending and receiving), capital collection, financial statements and other functions.
The traditional investors need trusteeship system to pave their way
Cobo and Custody and other institutions opening part of the difference is that there is no God ColdLar Wallet library provides users with Kuyt hosting some or all of the private key “option. In addition, IBM and Aegis Custody provides the program is to provide encrypted backup way to protect the private key by using cloud services, rather than completely without touching the cold wallet, is to help the user private key storage.
The second point is that most of the institutions mentioned at the beginning, the essence is multi sign wallet system, but the positioning is more “managed”.
Galaxy Digital CEO Mike Novogratz once said that hosting service credible is the premise of institutional investors, commodity traders admission. He believes that the bull market is coming, hosting service depends on digital assets, such as wallet service and key storage solutions. Aegis Custody is designed for security and do not want to enter the digital asset market mechanism design.
Trust is really mature mechanism of traditional financial industry, information management mechanism can account management of assets but not to mention now, reducing the risk of misappropriation of funds and run away. In today’s currency circle but no similar technology role, the traditional exchange user money in escrow bank accounts, currency exchange center circle of users in exchange of assets is encrypted wallet, equivalent to have been playing the role of hosting.
Many of the financial industry that is the premise of traditional investors trust mechanism, which is one reason why a large number of recent financing record prices positioning “managed”.
Kuyt has not been mentioned similar to the word, this is based on what kind of consideration?
He said, not to help the user managed private key, one is based on the concept of trust to the center.
Once the security company to help the user managed, the risk is actually equivalent to increase, because the plot inside people may cheat the security company, the latter is difficult to identify. For example, after a project founder once said, the overseas cooperation people forge evidence other wallet team to hand over private key, with its own private key encryption away huge money.
Huang Xinyu frowned: “trust the word, I felt is the center of.” If the user really need, can library will consider in depth.
Two is the supervision problem. Custodian of the traditional financial industry, is the need to get a license, Kuyt hope itself or insist on compliance. “Encryption currency industry is not included in the regulation of today, I think it is the right and responsibility to the users themselves would be more appropriate.”
Kuyt also believes that trust is very important for the industry standard, but is not necessarily suitable for Kuyt security company.
Strictly speaking, the standard of traditional industries, Kuyt’s role is more like hosting provider system. “If companies do trust, they can do based on our technology, multi sign system + enterprise wallet is really can do hosting.”
For example, as fidelity digital assets of financial institutions, qualified customers to launch bitcoin escrow scheme, but the scheme may be used in other fidelity security companies, the latter may not do asset custody qualification. Ledger and IBM are selected to assume the role of custodian cooperation, its technology provider.
“Security is an infrastructure industry.” Huang Xinyu summary.
Expand the user base provides higher requirements for safety; safety improvement also gives users more confidence in the industry.
Mentougou lost coins in, was a serious blow to the confidence of users caused by currency price drop. If the asset security well, as the traditional mechanism approach laid solid foundation, this is probably the next bull market.
I’m Odaily the daily planet editor Lu Xiaoming, exploring the real exchange block chain, broke the news, please add lohiuming, please note Name, unit, position and reason.
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