Crypto Custody: Il nuovo servizio di CRYPTO360.

Crypto Custody: Il nuovo servizio di CRYPTO360.

Good morning everyone, today special:
“Private Key preservation” All of you know what is it and
above all you know how much the Private Key is a sensitive data, how important is
keeps it safely and how much important is not to lose it.
Crypto360 had an idea in this sense, in reality there are already others
companies that somehow provide you the storage of your crypto currencies,
there are also large companies and we are talking about Circle, we are
talking about Bitgo, we are talking about Goldman Sachs and Coinbase but all of them have a little the same modus operandi. Essentially they ask you to transfer
your own crypto currencies to their hot wallet, then transfer this crypto to a cold wallet, that is theoretically a wallet detached from the
network therefore safe from any attack. But in reality crypto currencies,
your crypto currencies are no longer in the your hands but in the hands of one
third company, in short, I leave to you the considerations.
We know very well that company also of a certain caliber in the
crypto world failed in really just few days. CRYPTO360 had another idea, we don’t ask you to give us
your crypto currencies, but we offer you to keep it safe. What is the difference? The difference is substantial because in the meantime
you could keep your private key and don’t destroy it after you have
transmitted it to us, and continue to do trading with your attached wallets and giving us
the private key only for a matter of inheritance. We explain you well
this topic because perhaps is the topic more interesting about of all the service.
In the other case, you could give us your private key, delete it from
all your supports and systems and leave it to us, practically the storage with the
possibility of arriving at any moment and ask it back.
But let’s start from how we storage this private key and what is the study behind this service, what we have done before
provide this offer to the market. To explain a bit well detailed in a technical way,
I will hand over to Luca who will explain to you the whole. Luca is part of our team
of research and development of Algebrica and for a very long time the team has been
looking for various solutions. Luca tell us a little about what was then
best solution for this service. Good morning everyone, in the first instance the
Algebrica’s research and development team had thought to build an encryption software
owner, but for a matter of transparency towards customers,
we have decided to leave this road because someone could think of
we could have introduce a back door and then not giving 100% complete transparency to the customer. So we relied on third-party companies that produce software
encryption and we have identified in the software market precisely, what
in our opinion nowadays it is the best software,
which is a software based on the encryption protocol AES 5, excused 512
and that at present it is the best encryption protocol on a commercial level. Absolutely fine and this I would say fine up here very well for that
concerning the encryption of the private key client side, but then we have
said “ok, this private key must be transmitted to us” and even here,
Luca, we decided to use a safe transmission system
because the problem that you told me (I did not know it) was essentially that
this file could be corrupt in the transmission of the
client towards Algebraic, or better, towards CRYPTO360. Explain me a little better. Absolutely true what you said, in fact in the post-encryption phase it’s done a check sum before customer side, and the same check sum is done side
receiving by CRYPTO360, in way to verify the integrity of the file.
Once received the file, CRYPTO360 adds an extra layer of
encryption based no more on AES 512 protocol
but on the AES 2048 protocol, which is the protocol at present used in
military field. So let’s say the protocol in absolute
safer, existing on the market. Once you’ve done this, what
do we do Luca? Where we put this file? Once encrypted
the file also on the CRYPTO360 side, the file is stored in a physical way
at the headquarters of CRYPTO360 in vault of CRYPTO360 and then some copies
are stored on cloud located, geodelocalized around
the world. Well this therefore further security that if tomorrow the
CRYPTO360 headquarters were to explod, your files are still safe because CRYPTO360 keeps a copy in obviously geo delocalized in
additional servers always owned by CRYPTO360, in order to give the maximum
safety also from this point of view. Ok, I would say that at the level of
safety we have explained the system. But moreover
when you give us your private key, we obviously establish also a contract between you and us, and this contract, in our opinion,
it’s the most interesting thing because the contract gives the possibility to
customer to request digital file at any time, but not
only, it gives the possibility to customer to include on the contract
names that can request that file. The names can also be
connected to events or dates or anyway to customized solutions that
can be decided from time to time between the two parts.
I’ll give you some examples. You with yours son create a crypto wallet
and decide that this wallet will be able to go to your child only at his
eighteen years. So, you have to give us the name and surname
of your child with relative data, also obviously a date where it will be
redeemed by the child, that is the eighteenth year of age. Your son
comes here when he is 16 we recognize him,
but we can’t give him nothing until he turns 18 years old.
Only when he will 18, we will give him the file that we retain. In the same way, the need can arise between two companies that decide to transfer something only after one
determined event, or another example in case of death can be set automatically
various ways for claim file. You could give us the names that can
redeem the digital file or in much simpler way, at the level of
inheritance, if the heirs arrive here we will give them the file. Obviously
first we will verify death, we will verify the inheritance, there will be
checks that we are going to do and if everything will be regular,
we will send what we keep safe on your own.
This in my opinion is the most interesting thing because currently, differently
of banking system where even if I do not leave anything in one
testament, I leave nothing written, in automatic, however, deposits and goods I have
inside my current account go to my family. For what regards the crypto currencies, we all know that if I do not transmit in some way
the private key, those goods that they are inside the blockchain will always be lost. Besides this we say that the service is also
non attachable by authority, because the digital good it is not owned by anyone because is not nominal. At present, that good is
impenetrable. We think this service is currently the best
service for those who want to keep safe his own private key, simply because of a question of inheritance or perhaps of passability
of the thing, where is decided to not use it and leave it there for a while
determined/undetermined. Service works very simply, after the customer has contacted us we draw up the contract and assist him
as Luca has a little anticipated in the encryption of the file. Service
encryption takes place on your computer remotely via programs such as
skype, Team view, or others, there is total privacy in the moment that the customer obviously
handle his file, as long as it is not encrypted. Then there is all the
contractual part as I told you, the service has a one-time cost for
the first phase of encryption and then there is an annual fee, with relative
contract that goes from year to year like a safe-deposit box where
essentially it goes on as long as that customer does not decide to terminate contract. But also in the case customer did not pay for some
determined event, see also precisely the event of death and then as we know
very well sometimes the succession can last even months if not years,
we will not go to delete those files. Those files will remain indefinitely
even in the event of non-payment in our servers, just in case
happen one of these case studies that I have told you and the heirs rather than the client which for some reason does not
he paid and arrived after even years from us,
we will have the file and we will deliver it and we’ll simply charge all of
the unpaid annuities plus obviously a an additional penalty for having
kept the file without receiving the our fee. For further
information to better understand the service you can go to our page under the voice “digital asset storage” you will find a little all
formations we have given you today, but to have even more details or for
join service, write to us at [email protected], or call us rather than write us on social media. We will give you all the latest information
or we will give you the service there we have just talked.
Thank you all and see you soon next


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