Introduction
Very recently, I was tricked into clicking on a phishing link while reading an article on a social media site. On discovering, I became alarmed. I quickly browsed for what to do in such a situation and learnt I had to disconnect from the web immediately in order to prevent the hackers from gaining further access to my system. I immediately went offline, then proceeded with the other steps that I had been directed to take. Out of fear I remained offline for the rest of that day.
I escaped the hack. Sadly, many people have not been so lucky. Hacks and system breakdowns have become two a penny. With hacks, the attacker need only infect your system with malware to get details of your various passwords, private keys to your crypto wallets, credit card and banking information stored on your system. With this, he goes to town to withdraw your funds or exploit your data in other ways - probably to blackmail you or to impersonate you.
Any of these is big trouble for you. Thus, it has become quite dangerous to use your computer or equally unreliable means to store your valuable data. Wise individuals NEVER store their sensitive data on their computers.
That said, cryptocurrency/digital assets storages offered by organisations have become quite popular with investors and data managers. There are two types:
- Centralized/online storages which is used by exchanges.
- Personal cold storage systems
Both methods have significant limitations. The internet is porous; Anything stored on the web is a potential target of a hack. So it is that crypto exchanges have been bedevilled by hacks from the $473 million Mt. GOX exchange hack of 2014 to the recent $534 million Coincheck case.
There have also been cases of system failures. Yet, with online wallets, investors relinquish control of their private keys for management.With exchanges, investors' funds are never safe until they are out.
Personal cold storage systems are offline, and thus largely safe from cyber attack. Two popular ones are Ledger and Trezor. Unlike online wallets, Hardwares storages may be too complicated for the average person. They are also prone to damage and loss and have to be moved about, thus their accessibility is restricted.
Based on the foregoing, there is a need for an improvement on the two methods. An effective system will give the security of cold storage while not jeopardizing the important advantage of accessibility offered by hot storage methods.
Goldilock - just the right storage
Goldilock is a secured and very accessible storage for cryptocurrencies and other digital assets (including data: passwords, private keys, insurance policies, health records; and documents: licenses and certificates) which uniquely combines the features of both hot and cold storage solutions.
Goldilock's holds that, like the banking sector where users are rest assured that their funds are safe, crypto exchangers and custodians should also be responsible for thevsecurity of funds kept in their care.
How can Godilock combine hot and cold storage solutions?
Godilock will make use of remote storage. That is, all data stored with Godilock will be offline. However, documents will immediately be available online for users when it is needed, following which they will instantly be disconnected from the web again.
The Unique Combined Benefits of Godilock for its users
Thus, Godilock users can enjoy the benefits of both hot and cold storage and eliminate their disadvantages:
Users can be rest assured that remote storage of their data will ensure the security of data stored at all times.
Users will experience no delays in accessing data stored. rather, it will be immediately accessible.
Goldilock is a universally accessible platform. That is, it can be accessed from anywhere.Users will not have to physically move hardware about.
Goldilock features
Goldilock takes responsibility for the security of data stored in its custody. The following features as outlined in the Godilock whitepaper are geared towards achieving tight security amongst other benefits.
Physical airgap disconnection from electronic networks once data is not in use.
Encrypted physical HSM vaults allow crypto keys and digital assets to be active and instantly accessible via a non-IP trigger mechanism, but physically disconnected and inaccessible from the internet when not in use.
-Dedicated per-user hardware for processing storage of encrypted data
-Regressive connectivity and signal processing
- Biometric gateways
-Device recognition for verification and added security
- Personal generated codes
-Scalable physically-segregated connectivity solutions
-Two-Factor Authentication during verification
Optional multi-signature security
Multisite encrypted data backup
Secure dashboards and live reporting on access and usage Fully-insured third-party guarantees for the extraction and delivery of data to owners on demand or in the case of business disruption
Goldilock's Lock token in use
Which platform will be best for Goldilock?
Godilock will be hosted on the NEO blockchain because the Goldilock team believes that NEO ecosystem will complement and enhance the project. Their careful decision is based on NEO's focus on governance and compliance, its choice of consensus mechanism, and the speed of transactions on the platform. Also, NEO being into Digital Assets, Digital Identity, and Smart Contracts,
Finally, NEO's investment in ecosystem and community is also a good indication of its scalability for it's members.
Goldilock Use Cases
Goldilock's technology can be integrated by any organisation that manages cryptocurrencies, digital assets and data/documents. These include but are not limited to
Banks, Crypto exchanges, Health records managers and Credit reporting agencies.
Goldilock's storage technology will also be very applicable in organisations that engage in GDPR compliance to protect consumer data in accordance with government's strict requirements, Digital (entertainment media)rights management, accessing Secure digital vault and individual remote vaulted wallet.
Goldilock team
First thing that is evident in the Goldilock executive makeup is that the team will Inspire confidence in potential investors and service users. It comprises a crux of vastly experienced technocrats and business professionals in finance, security, business, IT/engineering, blockchain technology experts, serial enterpreneurs and developers.
Conclusion
Goldilock is on the list of Entrepreneur's published Top 15 Token Sales to Watch and *Forbes "Top 10 Blockchain Companies of 2018."
Without a doubt, Goldilock will be widely adopted in no time. The government has strict standards that data and funds custodians must meet. Thus, a storage system with advanced security features such as Goldilock will appeal to many such instituitions, moreso because of its patent-pending right to the implementation of the air gap toggled by non-IP triggers technology: as it would have no competitor in the market as regards the use of the technology:
Goldilock's patent-pending technology security suite:
"Goldilock holds a U.S. patent-pending protection on the implementation of technology based on an air gap toggled by non-IP triggers. " - Goldilock Whitepaper
The blockchain is popular for its transparent and immutable features which automatically makes it more secure than the traditional sector. However, there are still limitations in the application of that security as has been shown, and this has been a major deterrent to traditional companies adopting the blockchain.
No doubt, the successful integration of Goldilock, a blockchain-based storage system by traditional companies will inspire confidence in the security of the blockchain industry as well as other aspects of it. Hence, in no time, traditional companies will begin to adopt the blockchain in other business spheres, based on its use case application to virtually every industry.
I look forward to this happening soon.
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To get more details about Goldilock digital storage system, please consult Goldilock website or whitepaper
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