Security means everything in the financial world. Would you put your money in the bank without any guarantee that you’ll be able to withdraw it at any moment? Probably, no. You need a vault for your money that you’d be confident about and not losing sleep because of it.
The same applies for digital wallets. There are a lot of good ones, stable, secure, with high-end cryptography technology engaged, changing address and so on. But all these wallets also contain the common single point of failure - the private key. You just can’t deny the human factor. The user can send his private key instead of the public one, he may lose or forget it and lose access to the wallet, the private key can be stolen - in every of these scenarios the user will lose money. If everyone knows the weak spot of digital wallets, why not get rid of it?
Besides, if we talk about crypto assets, don’t forget that you need different wallets for different currencies. More private keys to manage. Also, how well do these wallets work together? This can impair an institution’s ability to do business effectively by limiting the parties with whom they can transact. A more secure, flexible and scalable solution is needed for institutions to succeed in the burgeoning digital asset market.
That’s why SwissBorg chose Curv: the new standard for digital asset security that provides the protection, instant liquidity, and complete control required for institutions to thrive in the new digital economy.
What is Curv?
The world’s most trusted digital asset security platform. Curv is the most secure, flexible, and scalable way to sign transactions and manage any digital asset on any blockchain or ledger. The company is also the only cloud-based MPC wallet provider for digital assets and the first of its kind to achieve SOC2 Type II Certification.
Multi-party computation (MPC) is the ability for multiple parties to jointly perform mathematical computations without one party ever revealing its secret to others. Curv has pioneered the use of MPC protocols to create distributed shares. Data that’s split into multiple encoded parts are known as shares. Curv’s independent shares collectively compute a public key and wallet address, which can be used to deposit digital assets -- without ever creating a private key or any party revealing its secret to other parties.
This way we have a secure, flexible and scalable system behind the Wealth App that lacks the most common vulnerability: the private key. For more information, visit SwissBorg’s Help Center and Curv’s official website.