SMD provides, with Icynote multi signature, one of the most secure wallet in the crypto-industry. The clients can have access to the Icynote security system with an added layer of physical multi signature.
This is how it works
Instead of printing the whole key into a unique Icynote, the Icynote multi signature works differently. In fact, the wallet is printed on 3 different units. The final result is a unique wallet in 3 different Icynotes for maximum security.
- Wallet 1 with 2/3 of the private key : 1.A
- Wallet 1 with 2/3 of the private key: 1.B
- Wallet 1 with 2/3 of the private key: 1.C
This is how we print the private keys in 3 different Icynotes
The solution is very simple. There is no need of technical IT people and no need to contract an expensive insurance since the Icynotes are traveling without any risk of been stolen.
In this case, a Swiss customer has offices in Zürich, Geneva and New-York.
- He buys 1’000 units of Icynotes (Meaning 1’000 units of Type A, 1’000 units of type B, 1’000 units of type C)
- SMD distributes via Brinks or Loomis 1’000 Units to the Geneva offices, 1’000 Units to the Zurich offices and 1’000 Units to the New York offices.
- The customer fills, for example, every Icynote with 1 Bitcoin
- The result is that 1’000 Bitcoins are secured in 3 different icynotes, (the price is 15’000 Swiss Francs)
- Vaults, insurance and transport cost about 1’000 CHF