When the Old IT Security World (Gemalto) partners with the New Crypto Security World (Ledger)
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Is France slowly becoming the center of the World's Crypto Security?
Security giant Gemalto and hardware wallet provider Ledger are pooling their efforts to create a new secure storage solution for financial institutions working with cryptocurrency.
Eric Larcheveque, CEO at Ledger, said in a statement:
"As the market value of blockchain based solutions rises, so does the need for bank-grade security products, when financial institutions are looking for dedicated, certified solutions."
Todd Moore, Senior Vice President of Encryption Products at Gemalto, commented:
"With the proper security to protect communication, devices and users, blockchain can offer a trusted platform for parties that don't have an existing relationship to do business efficiently and transparently. Beyond the financial services market, we are also working with Ledger to embed BOLOS into any device's secure element and bring high-assurance security to markets like smart energy applications, home automation or wearables."_
**Ledger already has two digital wallets. Nano S being the cheapest (c.70-80$). In March, Ledger raised $7 million in a new Series funding round.
This is the Ledger Nano S: The Hardware Wallet the most sold in the World
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My Take on this partnership
It is a very good news for both companies and the Crypto-World. Why?
Simply because the main reason that prevents Cryptos and Blockchain applications to go mainstream is the security side. People do not understand and are not willing to spend hours to understand how the ecosystem works.
Therefore, this deal between Gemalto one of the world's leader in security (passports, IDs, Mobile sim card and defense tracking system) and Ledger (the most sold hardware wallet in the world) will allow the Crypto security to benefit from thousands of employees working at Gemalto !
In the end, Gemalto could try to acquire Ledger to benefit from this huge potential market.
Sources:
- http://www.gemalto.com/press/Pages/Gemalto-and-Ledger-Join-Forces-to-Provide--Security-Infrastructure-for-Cryptocurrency-Based-Activities-.aspx
- https://www.coindesk.com/gemalto-and-ledger-to-target-enterprises-with-new-cryptocurrency-wallet/
I couldnt agree more. The more and more we can prove hoelw secure crytpo is and we can make it the better it is for everyone.
Thanks for a very informative article @vlemon, I agree that this technology needs standardisation and security in order to go mainstream. Can that ledger nano hold several currencies in itself?
You are welcome my friend. It is important that legacy corporate and new startup partner to build the Post Fiat World!
The nano ledger S can hold BTC, ETH, Ripple and other ones. They can upgrade the Wallet Software (on google chrome) to add new currencies.
Ledger made some major deals with big names in finance, their "pro" solutions is already business compliant. Looking forward to this company futur !
Thanks for the article ;)
This would be a major development, I look forward to more parts of the world accepting cryptocurrency. Nice post, you got my upvote.
Thank you mate!
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