A lot of institutions find it very difficult to invest in the adoption of crypto, due to the issue of key custody. Securing cryptocurrency and digital asset is somehow both amazingly difficult but unexpectedly Simple to achieve just by using the right storage by Goldilock.
Let's Meet Goldilock - The King of the Right Storage
Goldilock is a new type of storage system, that uses physical airgap disconnection" method, which acts as a cold storage until such time that the user needs access to their funds/data.You can watch Goldilock introduction video below.
I said "amazingly difficult" above, Maybe, because I think you really do not know the problem I go through as an investor of cryptocurrency and manager of sensitive digital assets?
Managing sensitive digital assets and investing in cryprocurrency have been very hard, due to the reason that I have to choose between online hot wallet, which are exposed to the attack of being hacked, denied of service and even the collapse of custodial company; and personally-held hardware cold storage solution, which can be stolen, lost, damaged and also hacked.
What I am saying in essence is that, there's constant affliction of loss financially, when there is no efficient and secure key custody solution for cryptocurrency when key are mishandled. Both individuals and institutions are not left out in such cases.
Well, it's true that Xapo and Coinbase offered an encrypted cold storage solution sometimes ago. They, however, failed to skillfully manage most of the custodial needs of various institutions, because the accessibility of the solution offered by the encrypted cold storage is highly restricted. There is problem of quick access to encrypted key stored in a bank vault (which is out of reach).
I guess the question running through your mind right now would be, why did this dude earlier said it is "surprisingly simple" to achieve.
Well, you have every right to be inquisitive about the tangled phrase. Thus, I would waste no time to tell you that, the simple and sweet reason is because Goldilock makes the solution that simple. isn't that surprising?
Goldilock is based on three crucial premises that:
- There is need for users to occasionally access their personal data in a rapid manner without taking much of their time. This in turn help to prevent the availability of online data, required by hackers to perpetrate their crimes.
Goldilock will change the way people handle their sensitive digital data by providing them with limited time access through non-IP technology with secure authenticated layer, which is created through the connection of physical storage device to the internet.
Full backup must be provided for personal data, including and not limited to private keys, and they must be secured and free from physical contact and errors related to human.
Any sort of delay whatsoever, is not allowed in the act of getting access to private keys and personal data. That is, it must be quick and efficient.
The security benefit of keeping the data offline using "airgap" technology is to avoid, to the greatest extent, the availability of online data needed by hackers.
Private Key Custody
For each consumers of Goldilock, There is an offline storage device, which is encrypted and not connected physically to the internet in a Goldilock, until the user decides to access it. The Goldilock comprising the encrypted storage device is stored in a vault inside a safe data center.
Through a web login which is secure, there is an online access of the storage device, after which the storage device have been remotely mounted, which is achieved through a permitted non-IP command by the consumer over the Public Switch Telephony Network (PSTN).
The device is then disconnected from the internet after all transaction is completed. The data and keys stored on the users encrypted storage device cannot be accessed by Goldilock.
Last year alone, cryptocurrency exchanges that are public centralized recorded billions of dollars of cryptocurrency that was stolen, due to their sole dependent on relatively recent method of security.
Goldilock, however, offers an online-on-demand environment for exchange of cryptocurrency to rely on, which helps to hasten the processing of transactions and makes it quite possible for periods of peak traffic to be handled efficiently, during the unavoidable runs of the market.
Online/Hot Wallet Operators
The operators of hot wallet and providers of custodial services are given total freedom by Goldilock to take full advantage of their airgap custody solution, which is remotely automated. Goldilock depend on the flow of encrypted information, which then route request through Goldilock user devices for various individual, whether the clients chooses an outsourced service model or an in-house proprietary license, since they have no access to the data of clients.
A solution of cold wallet can be fully included into the system of Goldilock, such that, existing technologies can be efficiently improved upon by the operators of cold wallet, just by taking full advantage of Goldilock. Operators are then granted the freedom to securely and remotely access solutions without hesitating.
The benefits of combining the best of cold and hot storage is to get a secure cryptocurrency and digital file storage which cannot be hacked, and can easily be accessed anytime at anywhere.
Data Storage and Digital Access Security
The enablement of data warehousing operators, operators of data centers, government entities, as well as document storage to create Goldilock instances for their users, is because they are very suitable to assist both platforms-as-a-service and on-premises deployment models.
Thus, Banks, insurance companies, and other institutions can benefit from integrating Goldilock technology to their existing systems, because, Goldilock provides access to storage when they are needed or required for records of financial, legal and health informations that are crucial to clients, which is carried out by simply creating Goldilockinstances for their users.
The price of securing cryptocurrency and digital assets might look expensive. But, believe me, when compared to the billions of dollars lost due to inefficient security, then you would agree with me that the Goldilock solutions is indispensable at almost any price.
Goldilock is effortfully determined to be available as an integral solution to achieving compliance for the standard security, for the future licensing of digital custodial services, cryptocurrency exchanges and other personal data processors, that become requirements from governments and insurance companies.
The impact which improved cryptocurrency security and access have on mass adoption is that, it has led to an explosion of new capital formation, which has gone faster than the capital market of the venture and seed.
The security suite of Goldilock is very much dependent on patent-pending airgap security solution which is activated remotely and controlled by users for the storage of private digital asset and safety of cryptocurrency keys.
The Goldilock security suite includes:
- The Goldilock wallet for investors of cryptocurrency;
- Integrations through the Goldilock API required by institutions to store information's that are sensitive;
- Colocations required for the use of institutions to control their servers directly; and
- On-premises deployment option needed for institutional or personal uses at home.
Goldilock Wallet for Cryptocurrency
NEO being the safest cryptocurrency on the market, its token, along with the tokens of NEP-5 and GAS, can easily be stored and transacted using Goldilock wallet. The wallet will run inside a web browser authenticated over SSL.
Goldilock API Services
Some institutions already have wallet solutions, but they need improvements for the security of their solutions. As a result, They can make use of Goldilock patent-pending solution for their solutions just by using the API services of Goldilock.
For the Purpose of Regulatory Compliance
NEO have the ability to issue and make confirmation of digital identities, with the use of the public key infrastructure [PKI] X.509 standard for identity. It help institutions to audit digital assets and transactions.
It makes use of higher Consensus Mechanism
Goldilock also choose NEO because it is applied as an advancement to the consensus mechanism of the proof of stake (e.g NXT) and proof of work (e.g bitcoin), referred to as "Delegated Byzantine Fault Tolerance" (dBFT).
Transactions are processed even faster
The consensus mechanism of NEO makes it quite possible for blockchain to operate in surplus of ten thousands transactions per seconds without the cost of transaction.
A friend of Samuel, unknowingly threw out his hard drive, which contained his private cryptocurrency (i.e bitcoin, etherium and others)
keys and passwords of assets worth millions of dollars. Samuel was afraid that, the same thing might happen to him someday, and he kept worrying about how to avoid himself from experiencing such misfortune.
Thanks to an article on steemit, where Samuel got to know about Goldilock. He was at ease when he realised he can store relevant keys and passwords with Goldilock and access it anytime he needs it , without the fear of loosing his hard drive or private keys.
The security of the digital data of an institution was hacked and billions of dollars was stolen during the process. Due to this, the institution began the search for a more secure type of storage for their data to avoid a reoccurrence, and in no time, they came across Goldilock. The institution immediately implemented Goldilock. They can now be rest assured that their data cannot be hacked anymore, since it is no more online.
- The security of offline data is used in combination with the ease of online accessibility with Goldilock
- Goldilock is always offline when you don't need it and would be online only when you need it.
- With Goldilock, your information such as your digital private keys and passwords, would be available anytime from anywhere.
- The solution of Goldilock is indispensable almost at any price.
- With Goldilock, you are free from the evil deeds of hackers.
LOCK will be used as a payment method for various users to subscribe to the services of Goldilock wallet. The LOCK token of Goldilock will first be registered on the NEO blockchain, with others coming into place at a later or suceeding time.
A total supply of 1 billion LOCK tokens will be mint on the NEO blockchain by Goldilock as a part of contract deployment.
Use of Proceeds
The sale of token will have a $50 million USD hard-cap, so as to provide enough funds for the operations of company.
The team have a long term experience of entrepreneur in financial services, leading technology, and marketing with attention fully concentrated on innovation.
Goldilock helps to redefine how individuals and institutions handle their sensitive digital data.
Disclaimer: This is not a form of advice for investment, as it is a writing for a contest.