GOLDILOCK THE SECRET TO SECURITY IN THE AGE OF CYBER CRIME AND BREACHES

in cryptocurrency •  last year  (edited)

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The internet is a very unsafe place; it is prone to hacks, hijacks, denial of service, vulnerability, data leak, custodial company collapse, breaches, and financial losses.

Cryptocurrency investors and managers of sensitive digital assets are currently forced to choose between personally-held hardware cold storage solutions, which can be stolen, misplaced, destroyed or confiscated.

The adoption of Cryptocurrency has made it that most of the money used are channelled online, the money is stored online, password to wallets and exchanges are stored online by users, But sadly it happens to be that the internet is also not a very secure place to store such vital data as it can be loosed due to the challenges of the internet.

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A lot of cryptocurrency users has lost their Billion dollars worth of funds to hackers and this cause the companies to refund the users on their fund and this is a very bad situation and challenge to the cryptocurrency companies, Without a viable, scalable, and secure crypto key custody solution, both institutions and individuals continue to be plagued by frequent financial losses due to the mishandling of their keys, but with the advent of Goldilock WE HAVE HOPE .

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PROBLEMS OF DIGITAL ASSET STORAGE

COLD STORAGE

Traditional cold storage solutions are not the answer to providing investors with a suitable key management solution for their cryptocurrency, which are vulnerable to hacking, denial of service, and custodial company collapse. Paper and USB keys can lost, stolen, or damaged. The encrypted cold storage solutions offered by groups like Xapo or Coinbase have extremely limited accessibility which does not address most institutional custodial needs. Storing an encrypted key in an inaccessible bank vault may be viable security for an individual or institutions who do not want to trade, but obtaining access to the USB takes days, which is not practical for active asset handling.

HOT STORAGE.

Hot storage solutions also prove ill-suited when it comes to key custody. Simply put: anything connected to the Internet can be hacked. Considering the 4 billion records breached impacting email providers, banks, and credit card accounts over the last two years, and given that over $1.2billion in Cryptocurrency has been stolen in that same period, it’s clear that the traditional digital asset storage industry is compromised.whitepaper Pg 4

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INTRODUCING GOLDILOCK

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Goldilock is a platform that delivers a unique key custody and data storage solution, and security for digital assets.
Goldilock is a patent pending solution to deficiencies of hot and cold crypto key and sensitive data storage... it’s the right storage.linkedin
Goldilock is revolutionizing the way data is stored on the internet by building an ecosystem to secure cryptocurrencies and digital assets for individuals and institutions. Goldilock is providing a remote physical disconnection of data from the internet.

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GOLDILOCK IS AVAILABLE TO:

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  • Consumers and institutions seeking greater security solutions for their private cryptocurrency keys than currently available from third-party hot wallets and cloud-based data storage providers
  • Consumers who require more security, flexibility, and global availability of private key custody than offered by physical hardware crypto wallets
  • Institutions seeking significant security upgrades for their users’ most sensitive digital assets by taking them fully offline when not in use, but who need to provide access to those assets at a moment’s notice.

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Goldilock VISION

Goldilock is based on the premise that your data should not be physically connected to the internet when you’re not using it, but that it does need to be available to you from anywhere immediately when you want to access it.

Redefining How Sensitive Digital Data is Handled

Goldilock is redefining how sensitive digital data is handled by individuals and institutions. Our remote, encrypted individual HSM vaults allow crypto keys and digital assets to be active and immediately available online via a non-IP trigger mechanism, while being physically disconnected and invisible from the internet when not in use by their owner.

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WHY GOLDILOCK STANDS OUT

GOLDILOCK: A LOOK AT IT'S PROPOSED SOLUTION TO COMPANIES/INSTITUTIONS

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Companies, draw their strength from their organizational formats, the large number of people working together, conforming to a certain philosophy and complying to the logic of the environment. With a glance at how working scenarios look like today, home office, flexible and dynamic working, traveling and remote work are immediate on the table
If you’re working within a bank, maybe you are rooted within your hometown, going every day to work, maybe as staff at the counter. Climbing the hierarchy, you will realize, the more you want to earn as an employee the more flexible you will have to be. You will also care to have a competitive edge on your colleagues, i.e. you will have to think how your flexible work setting fits with realization of the theory and practicability. You will have to manage your sensitive data in a different way you have done before.

Merging with Goldilock could not only make you as person more competitive, but differentiate your division, your whole company from other market competitors. Being able to dedicate yourself more to clients will make a difference, will highlight your position as institution from the mass. Trust is a crucial value that must be communicated appropriately via risk management.

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GOLDILOCK: A LOOK AT IT'S PROPOSED SOLUTION TO PERSONAL SECURITY OF DATA

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Individuals will stop to talk themselves into believing cold storage in form of hardware ledger wallets is the ultimate solution! Let it be supposed that the USB Stick gets damaged and we already know how hard it is to find crypto-and blockchain specialists on the market to build these devices. But are there enough experts to repair them?

Will we as digital nomads or travelers send our broken physical device to China when we are in the middle of the rainforest? Maybe our area has internet connection, but the postman or postwoman might not give us a visit regularly. Will we as a bank, insurance or pharmaceutical company feed the hardware ledger wallet monopolies, because there is no other competitor on the market? It’s time to open the eyes and reach out to the real solutions that suits us digital natives. Goldilock will give us the chance to live a blockchain solution. Lock token will give us the possibility to proceed in smart contract logic far better than the available one on Ethereum.

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GOLDILOCK: A LOOK AT IT'S PROPOSED SOLUTION TO MASS ADOPTION OF CRYPTOCURRENCIES.

How willing are cryptocurrency exchanges willing to implement Goldilock into their day-to-day operations? It’s out of question that Goldilock has potential to offer solutions for cryptocurrency exchanges’ hot wallet storage problems. Goldilock management services of handling peak traffic periods when the markets getting hot would be a positive side effect in these partnerships. As previously mentioned security is also about trust and cryptocurrency exchanges are lacking that kind of trust that could be restored by Goldilock.

It is noteworthy that apart from exchanges, institutions, communities and social media platforms, there are networks. Networks are far more scalable than companies and have the advantage of an infinite co-operational arsenal. As soon as first approach with a network was successful, the flexibility will pay off, i.e., that network owners have different glasses on and in a purposive way know best which branch for Goldilock could be most promising, which network nodes or arms should be stimulated first to reach the masses effectively.

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GOLDILOCK IS BRINGING AWESOME CHANGE TO:

Crypto Exchanges

The use of traditional exchanges as a key custody solution is popular and convenient, especially for the less advanced cryptocurrency consumer. However, as seen from routine hacks and thefts that reach into the billions, these methods are less than completely secure. With the integration of Goldilock security's core custody solution, exchanges become a more viable key custody solution by isolating their users from these attacks. We look forward to publicly announcing our first exchange partnerships in the next few weeks!Source: Goldilock website

Individual Remote Vaulted Wallet

As a cryptocurrency owner, your top priority is protecting your confidential data while still keeping it immediately accessible. Using Goldilock, you no longer need to tote around a device holding the key to your personal wealth. With Goldilock, private keys are never exposed, sensitive operations are isolated inside your hardware wallet, physically disconnected from the internet, locked in a vault with multi-location redundancy, and accessed remotely via biometric gateways leveraging security codes delivered over multiple device access points. Transactions can't be tampered with, and they are digitally verified in multiple locations simultaneously, leveraging your personal LOCK token.Goldilock website

Secure Digital Vault

Goldilock enables the secure, physically disconnected storage of sensitive information such as identification documentation, passwords, bank account and credit card Information, validated KYC information, or private contracts. LOCK token will allow account holders to securely approve sharing of their data and can act as an approval mechanism and escrow for transactions between multiple parties.Goldilock website

Credit Reporting Agencies

Hacks into credit accounts and credit identities occur daily. With the data breach last year at Experian, approximately 150 million households were victims of data theft. Millions of users scrambled to ‘freeze their credit’ to avoid accounts being opened in their name, and many now struggle to unfreeze it. The application of Goldilock technology will eliminate the need to have personal credit information online except in times when you, the owner of that credit information, give instant approval for credit agencies to make it available for specific periods.Goldilock website

Banks

Goldilock solution in banking will allow them to provide “a safer and more convenient” wire transfer process than they currently offer their clients. with the goal of Goldilock provisioning a secure backend solution for bank account and transfer management.Goldilock website

Digital Rights Management

To movie and music publishers,The ultimate result of application of Goldilock technology is wider availability of content, allowing millions of people to access movies and music previously unavailable without the use of nefarious means. Our first client in this area is SmartChain Media.Goldilock website

Healthcare Industry

The most ambitious application of Goldilock technology has been noted in our reach into healthcare communities such as Stanford University Hospital. Maintaining privacy while still being able to share data with authorized account holders such as laboratories, doctors, pharmacists or other healthcare professionals is proving to be one of the largest stumbling blocks to provisioning better care. Our goal is to improve the ability for patients, their families, healthcare professionals, and other authorized stakeholders to be able to more securely share data while protecting individual rights in ways which were impossible prior to our technological innovations.Goldilock website

GDPR Compliance

Governments worldwide are adapting to the sensitivity of data, and many jurisdictions now have strict regulations requiring security to protect personal data. For example, the European Union’s General Data Protection Regulation (GDPR) threatens fines of over €20million for failure to protect consumer data. GDPR represents a massive opportunity for Goldilock, as many technology providers do not have a technology solution to protect consumer data. Goldilock website

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GOLDILOCK AND NEO PLATFORM

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NEO is the first platform to offer a feature set focused on enabling a regulatory compliant smart economy, NEO and Goldilock share some core values that make it the perfect technology best to build Goldilock.
Some of these features include:.

Automate the management of digital assets using smart contracts

  • This is the storage of digital assets using smart contracts, which makes sure there is no breach in information/data.

A smart economy with a well distributed network

  • Without a smart economy the Blockchain would be a sluggish and less trusted environment but with the advent of a smart economy things has gotten easy and better.

Aims for regulatory compliance

  • This is a digital identify mechanism, which is capable of auditing assets and transaction most especially for big companies and Governments.

Utilizes superior consensus mechanism

  • Mechanism titled “Delegated Byzantine Fault Tolerance” which is a modification of the proof of stake protocol in which holders of NEO token vote for delegates, and delegates must reach a required transaction.

Process transactions faster

  • NEO’s consensus mechanism enables the Blockchain to process in excess of 10,000 transactions a second without transaction cost.

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GOLDILOCK WALLET FOR CRYPTO’S

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Goldilock wallet is used to store cryptocurrencies, this wallet will run inside a web browser authenticated over SSL which would offer security benefits of cold storage, while maintaining the convenience of hot storage. Information/data will be stored offline till its been requested by the user, at that point its temporarily connected to the internet via a non-IP command and PIN/ Voice verification over the non-IP Public Switch Telephony Network (PSTN)

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WHY GOLDILOCK?

Goldilock technology cannot be replicated by any other company because, Goldilock hold U.S “Patent-Pending” protection on the implementation of technology which relies on Airgap toggled by non-IP triggers. whitepaper Pg 12

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LOCK TOKEN

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The LOCK is the utility token which would be used to for Goldilock services.
The LOCK will allow users to store private keys for cryptocurrencies and other digital assets, and also provide an auditing mechanism for users via DBFT. whitepaper Pg 10

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AMAZING ADVANTAGES OF GOLDILOCK

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USER EXPERIENCES AND RECCOMENDATIONS

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Personal Experience

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Due to the very high rate of hacks and attacks on cryptocurrency’s wallet, Bankole is scared of venturing into the cryptocurrency world. But however, with Goldilock Wallet Application, Bankole is sure of security and he thus ventures into cryptocurrency. With his trust in the security gotten from Goldilock Wallet Application, he preaches the cryptocurrency gospel to his friends. This begins to cause mass adoption of cryptocurrencies in his community.

Company Scenario 1

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According to news, hundreds of millions of dollars worth of digital currencies have been stolen by hackers in recent months, experts say the problem is unlikely to go away soon, and fears about security have hit prices of Cryptocurrencies down this year.

South Korean exchange Coinrail announced on Monday that it had been targeted by Cyberthieves, who stole about 30% of its virtual currencies.

In January, Japanese exchange Coincheck said hackers stole more than $500 million worth of cryptocurrency. Last year, two Bitcoin exchanges went bankrupt after falling victim to similar breaches. About a third of all cryptocurrency exchanges have been hacked at some point. And many more wills suffer the same fate if care is not taken.

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In a statement, Bancor, a decentralized exchange, stated that a vulnerability was exploited to steal 24,984 ETH (approx $12 million), $1 million worth of NPXS and $10 million worth of BNT.
The hack occurred at approximately 00:00 UTC when a wallet used to upgrade some smart contracts was compromised. The wallet has withdrawn ethereum and ERC-20 tokens NPXS and BNT. Earlier this week, Vitalik Buterin, founder of Ethereum, said that centralized cryptocurrency exchanges should “burn in hell as much as possible”. However it is clear that decentralized exchanges are not inherently immune to vulnerabilities even if not to the extent of centralized ones.

RECOMMENDATION

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Exchange companies should quickly adopt the use of Goldilock platform for the security of their funds and for future purposes ,this can also make the price of cryptos to increase and for a better adoption.

The use of Goldilock will make you not to bother carrying about your cold storage hardware’s which could get missing at any time, instead you and I can store such relevant data with Goldilock and access it at any time.

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CONCLUSION
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Goldilock has emerged to ensure the secure storage of sensitive digital assets such as cryptocurrencies. And once cryptocurrencies can be well protected, mass adoption of cryptocurrencies is achieveable, as users are sure that their cryptocurrencies would be protected.
Every institutions that handles sensitive data should integrate the Goldilock solution into their existing technologies, as with Goldilock, high end security and accessibility is guaranteed.

Definitely, I am excited to know there’s somewhere that i can keep my crypto keys and other information safe.

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ANNEXES

VIDEOS

Now let’s watch this video made by me on Goldilock technology

Goldilocks Intro

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TOKENIZATION

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ROADMAP

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THE TEAM

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ADVISORS

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PARTNERS

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All images were sourced from Goldilock whitepaper, Goldilock website and pixabayunless otherwise indicated.

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MORE INFORMATION AND MATERIALS

Goldilock Website|Goldilock WhitePaper|
Goldilock Tokenomics|Goldilock Telegram|
Goldilock Discord|Goldilock LinkedIn|
Goldilock Facebook|Goldilock Twitter|Goldilock Reddit|

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My twitter link>> https://twitter.com/ObinnaOzurumba3/status/1026944166822068225?s=20

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