Introducing Personal Crypto Security
SF Blockchain Week 2019
Introduction by co-founder and CEO Max Skibinksy
Hello everybody. My name is Max Skibinsky. I'm co-founder and CEO of Vault12, and we just launched Vault12. It's a platform for your personal crypto security where you can harness the power of your friends and family to create an extremely strong, distributed, decentralized personal Vault to protect your most precious digital assets. And the best part is your friends and family serve as the guardians of your personal social Vaults. Because friends and family play such an important part in our product, we said, what if we do something different this time? Instead of us telling you about our platform, we will let our friends and family tell you about Vault12 and personal crypto security. So we made a little video about this. Here it is. I hope you all enjoy it.
Joe DiPasquale, CEO of BitBull Capital
The people who feel insecure about security and crypto are smart. Securing your funds in crypto is a full-time job. So what I hear are legitimate concerns that your crypto has a high risk of being hacked. And when it's hacked, it's gone.
Vinny Lingham, Co-founder and CEO of Civic
In the early days of crypto investing, literally, the best way to secure your keys was to take them offline. And that's what most of the so-called OGs did. We took crypto keys, we put them into vaults offline because the moment your keys are online, someone hacks them.
So I started thinking about the problem, and what I realized it wasn't the issue of Bitcoin or cryptocurrencies; it was the issue that we did not have the right tools that would let us keep and safeguard secrets of such ultimate value, such as cryptocurrencies and other cryptographic keys. And that's why I decided to start Vault12.
Wendy McKibben Spies, former head of Product for 21.co
You cannot guarantee security. And so it's this constant race between how secure you can make it and how much the bad guys want to invest in breaching that account or that vault or breaking through that door.
Blake Commagere, co-founder and COO of Vault12
We're a mobile-first solution that keeps your private keys private in a way that delivers personal crypto security for the first time. What we decided from the beginning is we wanted to build something that was both extremely secure as well as extremely usable.
Everybody knows that you can put your files and assets in the cloud or just keeps them on your local devices, but the problem is no matter where you put them, hackers or rogue governments can go either after the cloud storage or they can hack your local device.
And so what's happened often is actually these breaches occur because people do things like put in passwords that are password 1, 2, 3, right? Because how the heck am I gonna remember some bazillion characters with dashes and dots? Let's start with the assumption it can be easy and work from there.
I think one of the most unique things about our product is that it's designed from the ground up For regular humans. We wanted to build something that anybody could use, and that delivered a phenomenal and very, very secure experience. No matter your level of technical expertise.
Terence Spies, former CTO of HP Enterprise
Shamir's secret sharing is the core underlying principle that we use to take this cryptographic key and sort of shatter it into pieces where the pieces don't have any value. This idea of splitting on this very basic mathematical level is what enables Vault12 to do that key split in such a way that you're not weakening that key, but it does give you the ability to sort of take this very problematic thing of here's a file, don't lose it. Keep it available, and split it among people that you sort of know and trust and enable you to build a very natural kind of backup and control system.
We're fundamentally the last line of defense for people to safeguard cryptocurrencies.
What I love about the Vault12 solution is it really takes this paradigm that we already live in, the circle of trust that we have around us every day, and really shares that trust amongst many people to make it more secure.
We live in an era where people are actively trying to take your money. There are huge rewards to investing in crypto and you need to protect yourself.
What's most different about the bolt of product is that there's no central point of failure. The company doesn't store your data. The company is, is, doesn't even have access to your data at any point in its existence.
It works with every wallet, it works with every blockchain. It can even protect your non, non-blockchain assets, as that's the final Vault for the most important things in your life.