The Winklevosses came up with an elaborate system to store and secure their private keys. They cut up printouts of their private keys into pieces and then distributed them in envelopes to safe deposit boxes around the country, so if one envelope were stolen the thief would not have the entire key.
The idea behind Vault12 is how do we essentially split that responsibility, make that problem of key control less a technological one by essentially making it into a social one with networks of people that they trust.
Exchanges are the main target for hackers. Those are the biggest honeypots. So the number one rule in Crypto is, do not keep your money on an exchange, and if you're going to custody that money, you need to do it off of the exchange with a product like Vault12.
Security and usability are inextricably linked, the former cannot exist without the latter. Vault12 understands the need for end-to-end management of this experience as well as the importance of integrating into the prevailing crypto ecosystem
As we move to a more open financial system driven by advanced blockchain technology and cryptocurrency, we need smarter ways to ensure that the system is trustworthy. Vault12 does this by addressing a foundational need -- ensuring that your crypto assets are not only protected by decentralized security, but also by your trusted inner circle. Your private key never exists in one place or with one entity, reducing risks from hackers as well as everyday accidents.
Security is the lifeblood of industry, commerce, and leisure. As more people use decentralized applications, they will need a way to back up their crypto wallets and exchange accounts. Vault12 provides a simple and natural way to reduce risks and combat the fear of forgetting seed phrases and private keys.
Self-custody for crypto tokens is complicated and dangerous, which is why so many users outsource it to third parties, breaking crypto's promise of 'being your own bank.' Vault12 packages advanced cryptography into a simple user-interface for securing crypto tokens across an inner circle of trusted friends,colleagues and devices. This provides the security and recoverability of custodying with third-parties while preserving privacy and self-reliance.
Safeguarding money is necessary for the crypto economy to flourish. Vault12's distributed, decentralized, and server-less approach to security helps reduce friction associated with securing crypto assets. We look forward to seeing the company continue to innovate in the crypto security space