Goldilock Uses Pending-Patent Technology To Secure Digital Assets Using NEO Blockchain

in cryptocurrency •  last year  (edited)

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In some arguments, there is a notion that national security should be the duty of individual instead of the state 1.

Let Us Take A Glance At Human History As It Relate To Security

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People having private security service to protect their wealth as been around since time of Pharaohs in ancient Egypt. Emperors during the time of Byzantine empire hired private guards to protect family wealth. It is documented in history that wealthy warlords even in ancient Italy and China employed service of security personnel to guard their bases 2.

During 17th century, when cities began to grow in size and poverty increased, the need for personal security increased to the extent that tax payers' money was used to hire private guards. The industrial revolution arrived with sharp increase in crime, hence increase in demand for private security agencies. Notable among them was Pinkerton Agency in mid 1800, they were saddled with responsibilities of guarding financial institutions and railroads in important places.

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Do you know that Henry Ford, in his life, hired private security to guard Ford factory? So why would you not guard what is important to you? Goldilock is ultimately the best digital private security company of this century due to her disruptive asset protection techniques.

John Said "How Will Goldilock Change How We Handle Sensitive Digital Data?

Oh, John, thanks for this sensitive question. How often do you trade? Almost every day. This is exactly why you need the combined security of offline data and 24/7 accessibility. Goldilock will be there when you need it and lock when you don't need it. No matter where you go to, you are rest assured that your data is secured without fear of compromise. Do you have more questions to ask about goldilock?

What Are The Benefits of Combining The Best of Cold and Hot Storage?

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Smiles, I was expecting you to ask this question, John. You know how hybrid systems work? It looks deep into good properties of two distinct things, then combine both while bad features are eliminated. That's exactly how goldilock work for all kinds of asset. Okay John, do you know that aside cryptocurrency, you can keep the following assets using goldilock security by using LOCK token?

  • Identity Documents
  • Company or Business Information
  • Personal Diary
  • Health Data
  • Financial Records
  • Insurance Information
  • And any other kind of data that is of great importance to you.

Now, let us talk about hot and cold storage.

Hot Storage: When you keep funds with centralized exchange, it means that it is available to you for trading at any point in time. The good part is that, your asset is online and always accessible, right? The bad part is that; you can lose your hard-earned wealth before next cockcrow. Oh, I don't mean to scare you friend, sorry if I'd. But the internet is littered with news of hacked centralized exchanges because they keep customers' funds in hot storage.

Not so hot to deter hackers, maybe.

Here is a short list of popular hacked cryptocurrency exchanges after Mt. Gox mega hack.

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When Mt. Gox got hacked

  • Bitstamp got hacked in January 2015 with 5.1 USD stolen 3

  • Decentralized Autonomous Organization got hacked with $50,000,000 stolen in June 2016.

  • In August of the same year, Bifinex lost $66,000,000 to hackers

  • In July 2017, just one year ago, CoinDash ICO lost $7,000,000 too. And there are many more hacks where several millions of dollars (USD) were lost.

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Hot wallet feels like hot cakes to hackers.

Cold Storage: examples of these storage are paper wallet, USB wallet in form of Trezor. This is the most secured wallet, John. It is immutable to hacks because it is completely offline. But guess what? The crytocurrency news outlets are filled with reports of people who lost their storage device or paper wallet. James Howell lost $127 million worth of bitcoin stored in cold wallet and the authority did not allow him to search through the waste dump site. The UK government said it is against the law 4. My friend, you have seen both sides of the story. Now, I want to ask, how do you feel about a company that will give you the opportunity to enjoy advantages of cold and hot wallet without losing your mind? Do you just ask me about security benefit of using 'airgap' technology?

On Page 5 of Goldilock whitepaper, your wallet will be stored offline using airgap mechanism, and is not accessible from the internet. This is intermittently disconnected and connected, your wallet is only opened and closed at your request, after goldilock vault has intelligently verified and confirmed that only the true owner is the one that is making attempts to gain access to the assets. This is pending-patent technology. What more can you ask for, Mr. John?

Do You Know How This Will Increase Mass Adoption of Cryptocurrency?

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Digital assets are highly attractive to hackers 5. Number one priority of every investor is protection of initial capital, then profit. Without it, there is no deal. Every trader faced the trauma of security at one point in their trading journeys. No one would hear of hacks and invest, in fact, a single hack can reduce total market capitalisation by 40% in 24 hours. When things like this play out often, it confirms doubt of scared adopters. Until cryptocurrency is safe and secured, big investors will not come in.
With disruptive storage techniques, goldilock will increase investors' confidence, hence mass adoption will be faster.

Goldilock Will Use NEO As First Choice Platform

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Being the most secured blockain, NEO is the number one platform whose smart economy is regulatory compliant. Its operation mode is unique as it utilizes advanced consensus algorithm called BFT (Byzantine Fault Tolerance), fast transactions speed up to 10,000 transaction per second amidst zero transaction cost. These are what made NEO a community driven blockchain and is suitable for distribution of LOCK token.

Use Cases

  • Certificates can be stored using LOCK token, this is going to be the cheapest mean of securing documents that represent several years of human struggle. As students, one can enjoy top security for a token.

  • Storage for government classified information. Yes, government do have security agency, but once the 'airgap' technology is patented, they will rely on Goldilock to use it.

Here is What I Have To Say About This Project

For More Information

This is a disruptive tech startup that everyone should look out for, come 2019. Click here to have a look at Goldilock website. Read project whitepaper here. In case you have any question about this project, feel free to contact the team on telegam. What are you waiting for? Join us and enjoy unprecedented security.

This contest was brought to you by @originalworks, read more about it here.

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