PRE-GOLDILOCK ERA – THE PROBLEM
I met a friend some few weeks back and prior before now I use to get some money from him and he kept telling me about the world of cryptocurrency, so I see him as a big boy. On seeing him that day, he had this sullen look and his face looked glum, so I did call him a big boy and he said he wasn’t happy, that his blockchain wallet was hacked and all his coins was made away, I asked him how much worth of coins was taken and he said almost a thousand dollars’ worth was taken, my heart nearly stopped beating.
In our present economy which is taking quite an ugly turn can even make an insane man regain his sanity, a thousand dollars is about more the salary for about six(6) months or more of about 60 percent of my nation’s population. So his sullen look became like a communicable disease because I became sad on his behalf – A thousand dollars? Wow
Money was not the first form of exchange for goods and services, it started out as trade by batter where exchange commodity was ways of paying for services rendered, it graduated to cowries and then to metal, to ancient coins, to gold, copper and silver, and then to paper money, all these were exposed to thefts and people no longer felt safe. The world moved to cryptocurrency and we felt safety is here but hackers said NO.
On January 26, 2018, the world woke up to the biggest hack ever where $530 million in Japanese virtual currency from Coincheck was carted away, this one did exceed the $480 million that was stolen in 2014 from another virtual currency exchange, MtGox.
Not just the financial world is unsafe from hackers, sensitive government data are been hacked and leaked (like in Designated survivor, season 2 where sensitive government materials which most were classified were hacked and leaked to the press), private health records of patients in health industry, and most recently the last concluded FIFA 2018 world cup in Russia, the English players were advised not to access and sensitive information belonging to them online to avoid been hacked and leaked just as it had happened during the Olympics.
Virus has an antivirus as a cure, malaria has antimalarial drugs as a cure, same way the issue of insecurity with respect to crypto and other sensitive data has an answer. THE ANSWER IS GOLDILOCK
WHAT IS GOLDILOCK?
Goldilock is a highly technological secure storage system in which the wallet of the user can be stored and it is done offline in a physical air gap manner away from the internet. This makes the personal information of the user comprising of the private key and the digital wallet of cryptocurrencies are kept safe in a manner that is immune from any form of hack which the internet serves as a suitable platform. This means, NO INTERNET, NO HACK.
Goldilock in the most unique way ensures or is programmed in a way where as soon as the user is done with accessing their information and say log out, the device will be always out-of-the-reach of the internet until the user chooses to access their data again. The user’s data is stored on the encrypted device and even the Goldilock institution has no access to it.
THE SOLUTION GOLDILOCK PRESENTS
In simplest form, Goldilock provides
- Quick access to personal data by users and only when needed and necessary to avoid the dilemma that hackers presents.
- It ensures that personal data which belongs to users, data which includes private keys must be kept isolated and secured in a way that restricts any physical contact that can lead to human errors. This data remains fully backed up.
- The hoops and loops that leads to time wastage is greatly reduced or even cut off by the Goldilock system. The personal data of users and private keys are quickly accessible as soon as they are needed, typical ease of access.
THE GOLDILOCK SOLUTION MODEL
THE GOLDILOCK HOT AND COLD STORAGE BLEND
The Hot storage which entails users’ data been kept online, i.e on the internet, makes it the hackers haven. The cold storage which comes in form of a Computer hard drive (HD), external HDs, Solid State Drives or SSD, Ledger Nano, and many more exposes data of users to threats too because the devices can be damaged or stolen. Some of these wallets require a private key which can be lost too and the assets becomes inaccessible forever.
So Goldilock is neither a hot nor cold storage, instead it is a blend of both, it serves as a hot storage form when the user needs to do something online and disconnects as soon as the user is done.
This can be done using the physical air gap disconnection method. This means, as the name suggests, the technology ensures that the devices storing sensitive data are physically disconnected from the internet, remaining isolated in a vaulted location until when needed. So it is highly beneficial to users because no matter how much you invest into internet security, it can’t be as secure as having no internet connection at all. So the Goldilock through the air gap technology presents top notch security by keeping data offline.
SECURITY SERVICES RENDERED BY GOLDILOCK
GOLDILOCK WALLET: Investors in cryptocurrency can be rest assured with this application because their security is guaranteed as a result of features which include:
- The web browser is going to be authenticated over the Secured Shell (SSL) in which the wallet would be run.
- Every wallet key will be stored on a device totally disconnected from the internet.
- The wallet would only be brought online and accessed via non-IP mechanism
- Each respective wallet would have a personal and distinctive URL assigned to it
- Upon completion of whatever the user is doing online with their wallet and it is being closed, that wallet device is disconnected from the internet
- A Two-factor authentication is required for every transaction that was signed in.
GOLDILOCK API Services:
- The purpose of the API services is simply to enable institutions who have gotten the wallet solutions to access the patent-pending solution for their solutions that require security improvement.
- The Goldilock API Services will run on-premise, in colocation facilities, and in the Cloud. A colocation facility is a data center where institutions can rent space for their servers and/or other computing hardware devices.
LOCK is the utility token that will be used to provide a gateway for Goldilock services. If users must access Goldilock services, they need a utility token called the LOCK, this provides a gateway for their secure activities.
This is a NEP-5 asset founded on the NEO Blockchain. The system will include a Goldilock Wallet to access any stored information. When a user logs into the Goldilock Wallet, it will try to verify from the NEO blockchain if the user's public key address has a LOCK token. If authenticated, a Goldilock Wallet browser will pop up.
Upon user access, the Wallet will create audit information to Goldilock's private audit blockchain. This will secure your private key online activity is encrypted and will be confirmed by the Goldilock Wallet.
This means the LOCK token will keep track of the user's every activity on the blockchain while keeping the user data secure even from the Goldilock team. "LOCK is to be the accepted method of subscription payment for individual users on the Goldilock Security Suite."
GOLDILOCK AND NEO
Goldilock uses the NEO smart economy because:
- Transactions are done faster because it does not require mining,
- NEO uses a Delegated Byzantine Fault Tolerance (DBFT) algorithm which is a superior consensus mechanism.
- The use of NEO smart contracts integrates with pre-exisiting coding programming languages and will allow individual digital keys and signatures. This means it meets regulatory compliance.
Using NEO will assure Goldilock users the best and most secure business transactions on the blockchain.
BENEFITS OF USING GOLDILOCK
- For Health sector and legal institutions:
With Goldilock, health records of patients which are private for the health sector and clients of legal institutions would no longer be prone to cyber hacks. This is possible because the data of users are kept offline andcan only come online when necessary.
For Financial Institutions:
Financial transactions and other database of any bank using Goldilock becomes free from any intrusion or hacks they have been experiencing before. Wire transfers becomes even safer.
For Movie/Music Industry
The issue of piracy, copright infringements and all manner of nefarious access to music and movies can be kept safe until their content is properly distributed.
For Government agencies
Classified documents and other sensitive materials which isn’t open to public consumption can be encrypted and stored away free from any form of cyber hack or loss of data
Mr Okechukwu, a typical shrewd business man from south east Nigeria has lost so much money due to theft of all kinds is now so skeptical and paranoid about crypto investment, but with the advent of Goldilock, he is so rest assured and can safely sleep in peace without been scared. He has even got a lot of his fellow businessmen on board hereby leading to mass adoption of Goldilock.
Sterlingdinho of the Bragentine national football team who has different skeleton in his cupboard about his past and is afraid of it ruining his c areer can be rest assured with the Goldilock security that information encrypted can’t be hacked.
With Goldilock we can say hackers has run out of business and we can no more live in fear of insecurity of cryptocurrency and important data loss. So we can now put to bed the issue of storage insecurity because Goldilock is here. If it is so important just like Gold, then we can Lock it up safely.
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