An Austrian printing company known for its 200 year long tradition has decided to make a leap forward in the cryptocurrency space, as the coming altcoin news show. The renowned passport printing firm which was founded in the early 1800s has decided to launch a cryptocurrency storage device.
The new hardware wallet is the firm’s first step in the crypto space. Named YOUNIQX Identity, this company is a subsidiary of the Vienna-based Austrian State Printing House (Oesterreichische Staatsdruckerei or OeSD) and is known as a secure printing firm which is now the country’s high-tech passport maker and provider of other secure identity solutions.
Named Chainlock, the device will address the vulnerability of “hot” or online wallets to hacking. As the renowned passport printing firm noted, in an announcement on Monday, hacked wallets are currently “a great security risk.”
The “100% offline” solution by the wallet offers private key generation in a (patent applied for) high security enclave which the OeSD said means that the keys cannot be viewed by any outside party – even by the YOUNIQX or other OeSD employees.
Even though the wallet can be managed through an app, the renowned passport printing firm said that it is completely secure from unauthorized access to private keys over the Internet, WiFi and NFC. Further, crypto stealing malware such as the CryptoLocker cannot access keys on the device.
Coming in the form of a credit card, plastic and silver, the firm said that this invention is resistant to water and heat, too. If blockchain based tokens on the wallets are forked, owners of the card will benefit from the creation of new coins, the announcement added.
As described in the best cryptocurrency news sites, the renowned passport printing firm was traditionally a high tech paper printer. However, with this, it moved into more high-tech identity and security offerings, some of which it was set to develop.
The new wallet will be available via Coinfinity. Some of its anti-fraud features are akin to those found on newer forms of passports or fiat currency, with micro-printing on both sides, hologram, continuous colour gradients, tactile texturing as well as UV/infrared visible patterns. The price will be around $67 including VAT.
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