function-x-launches-the-most-easy-to-use-hardware-wallet-card-at-mobile-world-congress-2023

Function X launches the most easy-to-use hardware wallet card at Mobile World Congress 2023

 

Layer 1 blockchain infrastructure developer Function X is excited to announce it will be launching the most easy-to-use hardware wallet card at the Mobile World Congress (MWC) set to take place in Barcelona, Spain, from February 27 to March 2.

p(x)Card is built upon Infineon technologies SECORA™ Blockchain security solution and Function X network infrastructure. This hardware wallet card allows users not only to have their own private keys, but also pay/buy cryptocurrencies as well as verify NFT in the physical retail outlets through XPOS. XPOS is the world’s first blockchain point-of-sale devices developed by Pundi X Labs which are now used by thousands of merchants across 30 countries in the world.

The p(x)Card is an Near Field Communication (NFC)-empowered hardware wallet card. Leveraging NFC tech creates efficient two-way communication between two transacting parties, while ensuring that information is protected with encryption and secure channels. p(x)card users can easily sign/authorize transactions with NFC supported mobile devices, including point-of-sale terminals. The genesis edition of p(x)card supports f(x)Core, BNB Smart Chain, Ethereum, and Polygon.

The MWC is an especially appropriate place to launch the p(x)Card as it is the world’s largest and most influential connectivity event. The event typically attracts over 100,000 attendees from everywhere in the world, with operators, tech companies, and manufacturers using the event to showcase new products and services. The 2023 edition of MWC will include participation from big names such as Accenture, Huawei, Cisco, and so much more.

“The p(x)Card is a major milestone in our mission to make decentralized technology accessible to everyone,” said David Ben Kay, President of Function X Foundation. “We believe that this product will help to drive the adoption of web3 technology and bring us one step closer to a future where digital currencies and NFTs are used easily and securely in people’s daily lives.”

The announcement at MWC will be followed by a whitelisting for those who want to order the p(x)Card. There will be a limited 500 genesis edition p(x)Cards for sale. The retail price is 39.99 USD per card. Participants in the presale campaigns can receive up to 30% off discount. The whitelisting of the pre-sale will be open from Feb 28 to March 19 2023.

The MWC visitors can see the p(x)Card in action at the Pundi X 365 booth, Stand 8.1A8, Hall 8.1, during the following time slots:

Monday Feb 271:30pm -4 pm
Tuesday Feb 2811am – 13:30 pm
Wednesday Mar 11:30pm -4 pm
Thursday Mar 211am-13:30pm

new-partnership-between-alitheon-and-simba-chain-solidifies-the-missing-provenance-link-between-the-physical-and-digital-worlds

New Partnership Between Alitheon and SIMBA Chain Solidifies the Missing Provenance Link Between the Physical and Digital Worlds

 

MOBILE WORLD CONGRESS 2023 – Alitheon, the provider of FeaturePrint®, the machine-vision based solution for authentication and traceability of physical items, signed a go-to-market partnering agreement with SIMBA Chain, the builder of Blocks, an enterprise-grade platform that abstracts the complexities of blockchain development, making the innovative technology more accessible. The agreement enables Alitheon to offer its customers the ability to certify the authenticity and take ownership of digitized physical items using the blockchain-based FeaturePrint system. Similarly, SIMBA will offer its customers the ability to add to their physical items, an irrefutable authentication and tracing capability.

The combined solution provides supply chains, manufacturers and luxury retailers with a holistic solution to the authentication of physical items and the digital data that goes with them. There are several industries in which authenticating physical items generates value, namely by proving ownership and verifying attributes. For example, the authenticity and associated certifications of aircraft and automotive parts can be traced through the supply chain in real time, eliminating risks of false parts or subpar maintenance. Alternatively, luxury retailers can utilize such solutions to protect and maintain the authenticity and proof of ownership of their products across sales and resales.

Counterfeiting and gray market activity is a challenge across all industries, from aviation, automotive and pharma to luxury goods and collectibles. This impacts revenue, brand integrity and in many cases, the security, or health and safety of customers. The Alitheon SIMBA offering delivers both an irrefutable authentication of the physical item, as well as an immutable ledger where ownership and other data is stored, so that any sales, upgrades and maintenance are securely captured for the lifecycle of the actual item. The transparency and immutability that this enhanced solution delivers goes beyond any ‘certificates of authenticity’ or identifying additives that are currently used, ensuring end-to-end verification and security of both the physical and digital components of the product.

“The combination of SIMBA’s blockchain platform and Alitheon’s authentication technology is the first solution that intersects authentication and verification of the physical item, along with the certificate of verification of the purchase itself,” said Bryan Ritchie, CEO of SIMBA Chain, “Other solutions like barcodes and near field technology can be manipulated. On the flip side, storing data on the blockchain is immutable, but that still requires good faith that the physical item is indeed what the owner says it is. Such solutions only solve a fraction of the problem, and do not address possible manipulations across the lifecycle of the item, or any future upgrades, maintenance, resales, gray market sales and so on.”

“What does it mean for industry, when a company or consumer can irrefutably authenticate a product as well as its ownership and associated data?” said Roei Ganzarski, CEO of Alitheon. “It means goodbye to having to deal with counterfeits, gray market activity, theft, fraud, misidentification, human error, and a whole host of other expensive and risky problems. Welcome to the new world.”

sany-to-reveal-latest-construction-equipment-at-conexpo-con/agg

SANY to Reveal Latest Construction Equipment at CONEXPO-CON/AGG

 

SANY Group, (“SANY”), a global leader in the high-end equipment manufacturing industry, is gearing up for the 2023 CONEXPO-CON/AGG, the largest construction trade show in North America and premier event connecting professionals from every major construction sector, running from March 14 to 18 in Las Vegas. Under the banner “Made for America, Raised in Georgia“, SANY’s booth (F9553) will feature over thirty machines including its latest electricity-powered excavator and loader alongside an array of product presentations to demonstrate how SANY’s ingenious technical solutions and professional services optimize fuel efficiency, maximize construction productivity, and deliver responsive customer support.

Among SANY’s state-of-the-art solutions that demonstrate the company’s climate commitment is its carbon monitoring platform, which is developed in partnership with Rootcloud, a leading industrial IoT solution provider, to facilitate China in accelerating toward carbon peak and neutral targets. The platform, which has been deployed for the company’s No.18 factory, enables SANY to quantify and manage its energy efficiency performance.

Meanwhile, SANY’s energy management system powered by industrial internet and blockchain technology will showcase the ability to accurately track its corporate carbon print of energy and resource consumption and optimize its ESG governance system.

First debuted in China last year, the SANY SY19E electric mini excavator stole the show at bauma 2022 in Germany due to its unique design, versatile features, quiet operation, and exceptionally long battery life. Equipped with a high-torque permanent magnet synchronous motor and its proprietary integrated electric drive system, its efficiency exceeds 95 percent, complemented by IP67 weatherproofing, insulation testing, voltage and current detection, and fault diagnosis features that ensure all-around protection.

The SANY SW956E electric loader is a small yet powerful beast, supercharged by a high-power permanent magnet synchronous motor capable of delivering an instantaneous torque of 2400Nm. Its onboard intelligent system can automatically adjust power output based on load, speed, and other conditions, coupled with a 282kWh battery that can provide eight hours of usage after one hour of charging. On the safety front, the machine houses a dual-circuit hydraulic brake system and large-span and long-wheelbase design, as well as an integrated smart temperature control system for the battery, drive motor, and electronic control module to help it easily cope with extremely hot and cold working conditions.

house-of-rare-disrupts-investing-and-trading-of-scarce-collectibles,-launching-the-first-asset-backed-nft-marketplace-on-concordium-blockchain

House of Rare disrupts investing and trading of scarce collectibles, launching the first asset-backed NFT marketplace on Concordium blockchain

 

The Concordium blockchain will be used to launch House of Rare’s asset-backed NFT marketplace for fine spirits, leveraging Concordium’s novel ID framework to ensure that end user have the necessary attributes for the purchase for vendors legal compliance, such as age and jurisdictions.

House of Rare pioneered real item-backed NFTs with their first collection – RAREtequila. The collection consists of 777 NFTs, each redeemable for a bottle of highend limited edition tequila. The future plan is to branch out into the world of fine wine, champagne and cigars as additional assets in the near future.

Noticing the legal nature of these assets the marketplace will be developed on the Concordium blockchain to leverage the user friendly and privacy conserving Concordium ID-Layer, to achieve compliance with local authorities. Zero-knowledge proofs will help to verify whether customers are old enough to purchase alcohol in their country of residence while protecting personal data.

Users and collection creators will have a full suite of features to their advantage that will facilitate a personalized and joyful experience on the marketplace. Each House of Rare NFT has a real-life 1:1 item, fully redeemable by the buyers. The trustworthy custody of these assets will be transparently disclosed. Collectors are thereby ensured their NFT has real-life value and is scarce. This is a crucial aspect that will provide security for collectors. Furthermore, House of Rare will offer full collection integration. This means that collectors have full customizability and whitelisting options on sites of collection creators.

Miguel Ortiz, CEO of House of Rare, says: “We decided to develop on Concordium because of its network structure. The ID-layer ensures that the end user has the necessary attributes for the purchase and is located in a jurisdiction where we can sell our products. The decentralized approach and privacy measures adopted by Concordium made it an obvious choice for us.”

“Asset-backed NFTs are the future of NFTs, unlocking fractional ownership, liquidity, and value transfer by linking real-world assets to digital ownership and expanding the universe of tokenized assets. Our partnership with House of Rare will tap into the huge potential of asset-backed NFTs,” says Torben Kaaber, Head of Commercial at Concordium.

hut-8-advances-its-goal-of-achieving-carbon-neutrality-by-2025-through-innovative-recycling-program

Hut 8 advances its goal of achieving carbon neutrality by 2025 through innovative recycling program

 

Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT) (“Hut 8” or “the Company”), one of North America’s largest, innovation-focused digital asset mining pioneers and high performance computing infrastructure provider, partnered with Sparta Group’s carbon credit program established by their e-waste division, ERS International, to reduce their carbon footprint by reusing and recycling approximately 220 metric tonnes of electronic waste, earning approximately 5,200 metric tons of carbon dioxide equivalent serialized carbon credits.

Under the recycling program, first of its kind in Canada, after accounting for shipping and processing costs, for every metric tonne of carbon dioxide diverted from landfills, one carbon credit is generated. The carbon credits are verified by AET Group, who have been verifiers with BGIS and Brookfield. Hut 8 will receive the carbon credits in the first half of 2023.

“We chose to partner with ERS International because their innovative program allowed us to responsibly recycle obsolete miners while taking meaningful steps to achieve our carbon neutrality goals,” said Arnold Lee, Director of ESG at Hut 8. “This program allows Hut 8 to minimize the impact of electronic waste and divert CO2 from releasing into the atmosphere, while generating verified carbon credits approved by the Canadian Standards Association.”

It’s great to have Hut 8, a company that is determined to set an example in terms of reducing carbon footprint in the digital mining sector as one of the first to take advantage of our carbon credit program. Anytime we can help a company achieve their sustainability goals it’s a win for us too. We are laser focused on helping companies that trust in our service achieve their carbon neutrality goals through this program,” said Joseph Cimorelli, Director of Global Business Development for ERS International.

concordium-and-beatoken-partner-up-to-transform-the-way-artists-connect-with-their-fans-and-communities

Concordium and Beatoken partner up to transform the way artists connect with their fans and communities

 

Concordium Blockchain announces it is partnering with Beatoken, an innovative social platform that aims to bridge the gap between artists, fans, record labels and streaming services by leveraging the popularity of digital assets and security tokens.

With connections to Samsung and Universal as well as a distinctive network in the Danish music industry, Beatoken is a curated marketplace for rare digital music collectables created by the Danish rapper Kesi and associates. The platform provides a new and exciting way for music enthusiasts to engage with their favourite artists, while also creating new opportunities for investment in the industry.

Beatoken allows users to buy unique releases, live sets, remixes, and artworks from their favourite artists, but also gain access to unique art, unpublished music, and physical merchandise. Additionally, both music enthusiasts and industry stakeholders can invest in copyrighted digital assets granting ownership of shares from the royalties earned from streams. On Beatoken, artists can crowdfund their projects and offer their “partners” special experiences, gaining more insight into their fan group, while fans can follow the artist’s traction and compete with each other in a fun and engaging environment.

By partnering with Concordium, the only layer-1 decentralized blockchain with a built-in self-sovereign ID framework, Beatoken will be able to ensure that all transactions on its platform are fast, secure and transparent while gathering data on how people consume music and using this information to create new revenue streams for artists and record labels.

The partnership with Concordium is also a big step forward for Beatoken towards its goal of using blockchain technology to modernize the music industry for a new generation of fans and a new iteration of the internet, creating new and exciting ways to connect artists and their fan communities. Beatoken launched its first app in January 2023 and will introduce more exciting features in the months to follow.

“Beatoken’s platform is a step forward to a new era of music NFTs connecting fans and artists,” says Holger Fischer, Concordium’s Blockchain Solutions Analyst. “With this partnership, we continue to build on our commitment to trust and privacy, while supporting projects in our blockchain that foster innovation like Beatoken in the music industry.”

Yaw Gyamfi, CEO & Co-Founder of Beatoken, says: “We are proud to reveal a partnership with Concordium that will bring further innovation to the industry. With the support of our strong partners, we are confident in our ability to revolutionize the music industry and create new opportunities. We believe that our unique approach to connecting artists, fans, record labels, streaming services and brands will change the way we listen to music and we’re excited to see the impact it will have on the industry. We’re confident that our partnerships with Concordium and our strong relationship with the Danish artists will help us achieve our goals and we’re excited to continue building on these relationships in the future.”

swarm-launches-world-first-tradable-stocks-and-bonds-on-chain

Swarm launches world-first tradable stocks and bonds on chain

 

Swarm, the regulated blockchain platform, today announces the launch of a world-first public investment offering for AAPL. TSLA, and two US Treasury Bond ETFs on-chain.

The fully asset-backed tokens are available on the Polygon blockchain for both retail and institutional investors, with no minimum investment. Trading is available from Thursday 24/7 and compliant under German regulation on Swarm’s permissioned DeFi platform.

It is the first service of its kind for investors looking to access real world assets using digital blockchain technology, while meeting full regulatory requirements to provide complete confidence to users.

Hedge funds and institutional investors can now access stable and secure global markets 24/7 through Swarm. For those already on-chain, including stablecoin issuers and treasury managers, it means they have less volatile assets to deploy into without needing to leave the DeFi ecosystem.

The token offering initially includes AAPL and TSLA stock, iShares US treasury bond 0-1 year ETF and iShares US treasury bond 1-3 year ETF. Swarm will add more stocks and real world assets in the future.

Timo Lehes, co-founder of Swarm, comments: “Swarm is the first entity to offer and trade tokenized T-bills and stocks via a regulated and decentralized platform. We operate within the German regulatory environment, meaning we can issue and trade real world assets on blockchain, unlike any other entity.

“We have started with stocks and bonds, and will soon extend this to any asset that needs to be traded on a regulated platform, from carbon credits to real estate or private holdings. To date, traditional market participants have not had a comprehensive and regulatory compliant solution for issuing and trading real world assets on-chain.

“The FTX and Celsius crises last year only highlighted key structural and regulatory weaknesses in the market, demonstrating that crypto collateral is too highly correlated and easy to manipulate. Regulation, in the right parts of the ecosystem, is critical while decentralization enhances the transparency required to build trust.”

Swarm does not take custody of the asset-backed tokens, which are controlled by battle-tested code. They can be added to liquidity pools to earn yield, or kept in investors’ own Web3 wallets.

The ISIN-based tokens benefit from the trust and stability of traditional markets plus the flexibility and greater access to global liquidity, at lower cost, on the blockchain. Stock and bond certificate tokens are integrated with traditional financial markets and can be redeemed for the value of underlying real world asset.

Lehes adds: “Today’s announcement is significant for both DeFi and TradFi. There is clear demand for high quality assets to become available on-chain. Institutional participants will now be able to deploy assets from traditional markets via blockchain through Swarm.

“Swarm is a hybrid platform, combining the depth of liquidity and value of traditional financial markets with the advantages of blockchain technology. We are the only trusted platform that institutions with a fiduciary responsibility can use to issue, trade and manage quality collateral on-chain with confidence and in a decentralized way.”

The tokens are issued by SwarmX GmbH, a wholly owned subsidiary of Swarm Markets GmbH, under a prospectus registered with the Financial Market Authority in Liechtenstein and passported into Germany. Secondary trading activities are regulated by Germany’s Federal Financial Supervisory Authority (BaFin), and can be accessed on Swarm’s permissioned DeFi platform.

Notes to editors

  • SwarmX GmbH, the issue of the stocks and bonds tokens, is a wholly-owned subsidiary of Swam Markets GmbH. All published prospectus and notifications for the certificate tokens can be found under the ESMA prospectus registry (search for keyword “SwarmX”).
  • Trading activities on Swarm infrastructure fall under the purview of BaFin in Germany. Read more about our regulatory status here.
  • Available assets:

Token

Final Terms

Security Type

ISIN

xToken

AAPL

PDF

Equity

CH1231365359

(WKN 865985, US0378331005)

Polygon: Native Asset

TSLA

PDF

Equity

CH1247816114

(US88160R1014)

Polygon: Native Asset

TBONDS01

PDF

Bond ETF

CH1237059089

(WKN A2PBNP, IE00BGSF1X88)

Polygon: Native Asset

TBONDS13

PDF

Bond ETF

CH1237059071

(WKN A2DN9Z; IE00BYXPSP02)

Polygon: Native Asset

wemix-play’s-first-fan-token-myrtle-exceeds-100m-usd-in-market-cap

WEMIX PLAY’s First Fan Token MYRTLE exceeds 100m USD in market cap

 

MYRTLE, the first Fan Token on WEMIX PLAY, exceeded 100m USD in market cap just one day after its minting.

Minted by the famous Philippines actress/blockchain game streamer Myrtle Sarrosa on the global no 1 blockchain gaming platform WEMIX PLAY, its initial price was 1WEMIX$ and market cap was 1000WEMIX$ on 27th Jan.

As of 1st Feb, it was traded at 13.6WEMIX$ and the market cap grew to 109m WEMIX$.

Fan Token is a new way for fans to support creators using blockchain technology. A performance-based tokenomics connects creators’ popularity with the rise of their tokens’ value, and both creators and fans can benefit from the result.

Users can buy and hold Fan Token to support their favourite creators. And creators get to manage their own Fan Tokens, minted by a high-water mark method. They can monetize it, share it with fans via airdrop, or use it for many activities including fan meetings and direct support to the communities.

High-water mark method, unlike usual tokenomics which automatically mint new tokens regularly, mints new tokens only when its 24-hour average price exceeds previous average price.

WEMIX will continue to collaborate with other creators to expand the Fan Token-based digital economy fan community ecosystem.

More information can be found on WEMIX PLAY official website. https://wemixplay.com/fan-token

utopia-avatars-launches-its-genesis-collection-innovating-and-disrupting-notions-of-access-and-utility-using-web-3-technology

Utopia Avatars launches its genesis collection innovating and disrupting notions of access and utility using web-3 Technology

 

The Group founded by Alejandro SaezMaria Bravo and Javier Garcia together with their advisory board Randi Zuckerberg, Pepe Bastón, Deepak ChopraEva Longoria, Faze Banks, Desiree Ansari & Maha Abouelenein, have announced the launch of its first collection of NFTs, or Utility Based Tokens (UBT) as they called it; Utopia Avatars. The collection offers through this vertical a very complete proposal based on tangible utilities, metaverse, community treasury linked to IRL (In Real Life) businesses, artists providing utilities that bridge the gap between the physical and digital worlds and a clear vision of giving back as a way of growing.

Utopia Avatars will have 9,922 NFTs minted on the Ethereum blockchain and designed by hand from an incredible 3D design team transmitting the values of diversity and inclusion through the Utopians, their citizens. In addition, it will provide added value to the holders who, through acquiring these avatars, will have access to multiple utilities beyond the art. It is worth highlighting the tangibility of many of them in real life and the day-to-day of those who possess them and therefore enjoy them. Utopia Avatars’ value proposition focuses on offering its holders an experience or utilities based on physical and digital spaces on a product that builds with the community and for the long term.

Collaboration with leading artists in Europe and the U.S.

One of the great novelties of this collection is the exclusive stamp provided by two of the artists of the moment on a select number of avatars. The best-selling contemporary French artist of the world, Richard Orlinski, and Ganga Tattoo, one of the most famous tattoo artists nowadays, considered a genius for the realism of his sophisticated tattoos and known for tattooing celebrities such as Lebron JamesChris Brown, Nicky Jam or Drake.

The founders of this project came together to build innovative initiatives and acquire philanthropic commitments, trusting in the power of Web3 and the blockchain to innovate and give rise to the creation of communities that make up an ethical and sustainable ecosystem. The development of this community will be based on the values of transparency, innovation, and philanthropy.

Utopia Avatars is sharing the mission and vision of Global Gift Foundation being on their side every step of the way, with the aim of becoming a game changer, turning hope into a reality and channeling its energy to achieve a sustained social impact, where the success of their business is measured not only by its results, but also by the ability to do good and as the Utopians say: Make It Possible.

María Bravo “The possibilities are endless; we hope to create one of the most powerful communities in the world where traceability and trust reign, connecting philanthropists, brands, and companies that use the power of the blockchain to create awareness in order to build a world more ethical and responsible with our partners in real life businesses, a community with a great passion for spreading kindness and compassion where it is needed most.”

Utopia Avatars will consist of a collection of 3D art tokens available to the metaverse with the vision of establishing bridges between the digital “world” and “the” physical world, which will allow offering a more complete and tangible level of utilities; in addition to lifetime features that will be revealed as the project is launched.

As Nino Saez, Co-founder of Utopia Avatars, explains ” We truly believe in doing good and empowering a space that is here to make our lives better. Web-3 is a natural evolution, and we are founding Utopia Avatars to learn, share and build together as a community. This is just the beginning, the only limit is our imagination; and all of the team forces already united together with a community about to launch and a great ecosystem with several tech awards already; can surely make our vision and mission possible.”

Having in mind that Utopia avatars project has led a financing round of more than 10 million dollars just focused on building long-term utility for its holders, this is definitely a strong and key message than being backed by a VC is a sign of long – term commitment and vision.

Another of the peculiarities of the Utopia Avatars collection is the interoperability that each of them will have the opportunity to be part of other metaverses in which the Group is involved such as the well-being area designed by Deepak Chopra, a Gaming Area, Education, Live Events, Shopping and more innovative surprises.

The first Utopia Avatars collection includes pioneer technology to enhance utilities that connect the virtual world with the digital one.

An exclusive community

The community will have direct access to community treasury and merchandising featuring special artist collaborations, as well as an annual invite to a Utopia Avatars Event IRL.

Unlimited access to metaverse “Moments and Memories”

Each holder of Utopia Avatars will obtain all the rights to have unlimited access to the metaverse, visit its different areas, make a purchase at the Utopia Store, enjoy a concert in the Live Show area, a talk in the Education area, watch a movie at their own Digital Space or play with other users in the Gaming area.

Each holder will receive their Digital Space for free through an Airdrop, which will function as the personalized repository for all the content and assets they acquire in the metaverse.

Thanks to our own technology “Moments & Memories” each and every one of the contents and experiences that come together in the metaverse will have preferential access live (Moments) and will also be stored and available to be enjoyed on demand in an unlimited way as (Memories), exclusively for holders. This technology will also allow each physical asset that the holder acquires to generate a virtual Real Digital Token (RDT) that will be available to be used in the metaverse.

Real utilities from Ganga Tattoo and Richard Orlinski

Once the reveal is done, holders who have an Orlinski variant or trait in their avatar  (2000 in total) from which 1901 will receive a Digigraphie created and signed by the artist shipped home, they will acquire the IP rights and they will have two invitations to IRL events in their galleries. A special selection of 101 holders will also receive a 19cm Red Gorilla sculpture at their houses.

In the same way, those holders who obtain one Utopia Avatar designed by Ganga Tattoo (1.020 in total)  will be able to get a free special Utopia tattoo (this utility affects the 9922 total supply), 150 of them will receive an exclusive Nomad sculpture in their homes, 20 of them will be able to access a completely free tattoo per year and only one of them will be able to access the complete No Pain Tattoo experience.

The Web-3 “NFT” community Utopiaavatars thus receives a boost that will allow them to focus their efforts on its launch this February and strongly burst into the market with a real, high-quality proposal, thinking of the user that moreover will count with an innovative and unique way to build a Web-3 project with a clear long term vision to boost its possibilities and show full confidence in the development of the technology and the communities.

Mai Touma[email protected], 00971557684150

SOURCE Utopia Avatars

vaultavo-introduces-biometric-smart-card-based-crypto-custody-solution

Vaultavo Introduces Biometric Smart Card Based Crypto Custody Solution

 

Vaultavo Inc. (www.vaultavo.com) has developed a patent-pending crypto custody solution to address the security requirements of the institutional market and its clients.

The Vaultavo Custody Solution combines the world’s first biometric digital asset custody smart card with state-of-the-art proprietary vaults and secure SaaS digital platform and access portals, to create a solution that reinvents custody as we know it today.

The integrated hardware and software solution protects digital assets by creating and managing the Blockchain private key on the bank grade secure Vaultavo Card – a decentralized approach to security which mirrors cryptocurrencies, Web3 and DeFi and differs from competitive solutions that have attempted to provide security in a centralized manner.

The secure element in the Vaultavo Card, the foundation of the solution, boasts EAL7 security certification, making it safer than most, if not all, other custody solutions. The Vaultavo Card is the same size and thickness as a bank card, has a built-in biometric reader, an E Ink display, rechargeable battery and Bluetooth, NFC and USBC connectivity capabilities.

The patent-pending technology was developed to address one of the critical roadblocks to crypto’s expansion – the vulnerability of online trading, transacting and protection of digital assets. The size and scope of the problem is monumental; according to blockchain data provider Chainalysis, illicit transaction volume rose for the second consecutive year in 2022, hitting an all-time high of $20.1 billion.

“Unlike other providers who have to trade off accessibility for security, the Vaultavo Custody Solution is designed to address all the challenges of crypto custody,” said Philip Meyer, CEO, Vaultavo. “Ours is the only solution that guarantees the highest grade of security while allowing for the easiest level of accessibility and use. It has the potential to make using digital currencies as commonplace as debit cards for institutions and their clients, thereby increasing participation in the new digital economy. This solution will go a long way to ensure that the long tail of crypto again starts trusting the industry.”

Vaultavo’s protected IP technology is fully configurable, enabling multiple custody and self-custody configurations and multiple use cases:

  • Central banks, commercial banks, family offices and other businesses managing their own crypto portfolios
  • Individual clients’ digital assets held by commercial banks or other institutions under segregated private keys
  • A first-to-market feature: commercial banks and other institutions providing self-custody to their customers
  • Stand-alone self-custody for the retail market

Initial Institutional Clients

Vaultavo’s first customer is Revix, a Cape Town, South Africa cryptocurrency investment platform that allows users to securely invest in technologies and asset classes.

“Vaultavo is a crucial partner for our business; the company will give us the ability to essentially offer all of our customers a biometric card where customers can essentially and safely transact with crypto,” said Sean Sanders, CEO of Revix. “Vaultavo is doing something that no other provider in the market is doing right now – giving users the ability to self-custody their cryptocurrency without losing control of their assets. They are the key to finally getting us to the position we’ve wanted to get to for a long time, which is, allowing our customers to use crypto for real-world purchases like getting a cup of coffee.”

Myna Accountants, based in the United Kingdom, is a world leading cryptocurrency accounting and professional services firm working with crypto clients of all types including exchanges, DeFi protocols and decentralized autonomous organizations.

“We are very excited by this new technology and this new approach to one of crypto’s biggest challenges, custody and self-custody,” said Joe David, managing director and founder, Myna Accountants. “They’re taking something that has been fundamentally difficult and full of challenges and made it simple and secure for both Myna and our clients to use. Our partnership with Vaultavo will ultimately drive value for Myna’s clients and enable us to provide best-in-class and pioneering services for them.”

The Revix installation is scheduled for the first quarter of 2023 with general marketplace rollout in 2023.

A product description video can be seen here. Additional editorial assets, including a schematic diagram, downloadable high resolution photos, executive biographies and photos and a corporate fact sheet are available here.