According to a NodeVenture representative, since 2018, over USD 7 billion have been lost to theft, hacks and fraud because of a lack of specialised technical know-how. Access to NodeVenture’s virtual safe is regulated by a ‘private key’ with a length between 26 and 35 characters. The private key is stored offline on a cryptographic module in a high-security data center. The owner of the cryptocurrency only gets the public key.
Once registration is complete, digital assets can be transferred to the wallet. The relevant information of each transaction is shared between the online and offline systems using patented air gap technology, meaning that transactions can be commissioned online at any time and signed offline with the private key at the same time. NodeVenture currently has two contracts with financial service providers and is in a test phase with anAustrian bank.
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