A survey among 5,000 Americans conducted by Crypto Radar1 has revealed that 6.2 percent of US citizens already own Bitcoins and a further 7.3 percent are planning to invest in digital assets. Young men aged 25 to 34 made up the group were most interested in digital investments. In this demographic, 11.6 percent are thinking about acquiring Bitcoins. This shows that young people are increasingly drawn to digital assets, particularly in comparison to established investment formats such as shares. A Gallup survey2 conducted in the US in 2017 found that in the youngest group of respondents (18-34 years), roughly 24 percent were convinced that shares were the best choice when looking for a long-term investment. Also in Europe, where interest rates are stagnating at their present low, more and more people are considering digital assets as an investment option.
Secure storage of digital values is becoming an issue
Youniqx Identity AG, a subsidiary of the Austrian State Printing House, has developed a solution for storing digital values such as cryptocurrencies in the blockchain in a highly secure and forgery-proof way: Chainlock allows for secure offline storage of Bitcoins, Etherium and other digital assets. The process of key generation is one of several features increasing security. To manage their assets stored in the blockchain, users always need a so-called “private key”. Any person who knows this private key has access to the digital values. As a result, the private key is a popular target of cybercriminals. Particularly private keys that are stored on several online platforms or that are connected to the Internet in any other way are prone to cyberattacks. A recent case reported by the Wall Street Journal3, where bitcoins with a worth of about 24 million dollars were stolen, just underlines the threat for private keys.
At chainlock, the private key is generated in the high-security zone of the Austrian State Printing House in a process that is fully offline. Multiple security measures ensure that not a single person apart from the chainlock user, not even staff at the State Printing House, has access to this highly sensitive private key. “With chainlock, we have created a highly secure solution for safely storing digital assets that is suitable for anyone who owns Bitcoins or other digital values. Using chainlock is easy and always a safe bet even for those less IT-savvy,” CEO Lukas Praml says. Handling and storing the chainlock card is easy and does not require any specialised IT skills.
Highly innovative and highly secure
In this way, chainlock offers a highly innovative and highly secure solution to prevent the theft of cryptocurrency. For this reason, it is an attractive solution for all those interested in digital assets in the light of current interest rates.
Advantages of this B2B product:
- Key generation in a high-security zone: the generation procedure, for which a patent application has been filed, ensures that nobody can view the key pair – not even youniqx Identity AG staff.
- Effective counterfeiting protection: the security seal ensures that nobody can secretly read the private key.
- 100% offline: unauthorised access to the private key via internet, WiFi, NFC, CryptoLocker, private-key scammers, etc. can be ruled out.
- Water- and heat-resistant: the new credit-card-sized chainlock card is robust and handy.
- 100% independent: the private key’s owner benefits from coins created due to forks.
- Simple use: IT knowledge is not required (find the app at chainlock.com/app).
- 100% user autonomy: nobody but the owner can use the private key.
B2C: chainlock is available via various partners such as Tokenize Exchange in Singapore and Coinfinity in Central Europe.