Digital Storage & Security Releases MVP
Goldilock™ announces the release of the MVP version of their data wallet.
Digital storage and security firm Goldilock has announced the release of the MVP version of their data wallet. The announcement is the first public step toward a full-scale release of their solution for the custody digital assets, leveraging their patent-pending Remote Automated Air-gap Security (RAAS) to keep data offline and disconnected from the internet until the moment its use is needed for its intended purpose.
Goldilock is aiming to solve the issue of security vs. accessibility for institutions and larger crypto investors. Institutional grade custody providers have been offering the offline storage of digital assets (cold storage) for years. The solutions all rely on a combination of codes on digital or physical (paper or other) media in coordination with some kind of vaulting solution. These options work well if you don’t need to access your keys to make trades; however, trading is a key to doing business.
All of these solutions have the same issue which has vexed institutional investors for years — entirely locking them out of the market in many cases — and that problem is accessibility. The average, cold storage solutions require three-day notice for them to bring your keys online manually in order for you to make a transaction. This delay means these solutions just can’t meet the needs of active investors who need access at a moment’s notice. Additionally, the additional human interaction point represents a significant risk to data.
By relying on a sophisticated combination of legacy offline technology as a trigger mechanism for remotely toggling data nodes on/offline, alongside cutting-edge cryptography and biometric gateways, Goldilock created a unique way to access cold-stored data at a moment’s notice. The group additionally relies on a private blockchain tied to a LOCK token which provides access and a permanent ledger of all access activity.
This new RAAS technology (pronounced ‘race’) allows anyone to access their data anytime from anywhere that he or she has a mobile or landline phone.
Remotely accessible air-gap technology is truly transformational for the handling of all data across the internet. Institutions such as banks, credit rating agencies, video distribution groups, software developers, healthcare record custodians, crypto funds, crypto custodians, and crypto exchanges have all reached out to get on the waiting list to use this technology.
With an MVP of their solution released at the end of August, Goldilock has officially put RAAS technology on the map for institutions controlling billions of dollars in digital assets, from cryptocurrency through to personal data records. As well, the group is addressing the needs of sophisticated crypto investors who are seeking a similar solution for the secure storage of their funds. The response to the solution has been substantial, with a dozen deals signed for future clients, and a robust roadmap which will bring a full-scale solution in place by Q1 of 2019.
Originally published at medium.com on September 24, 2018.