Austrian State Printing House Subsidiary Launches Crypto Cold Wallet

YOUNIQX Identity, a subsidiary of the Austrian State Printing House (OeSD), on Monday, announced the launch of a cold wallet for digital currencies.

Dubbed as Chainlock, the wallet targets crypto whales and the company developed its security based on patented technology.

“Key generation in high-security zone: the generation procedure, for which a patent application has been filed, ensures that nobody can view the key pair – not even YOUNIQX staff,” the company stated.

The wallet will support an array of digital coins, including Bitcoin. In addition, it can also be used to store security tokens sold via security token offerings (STOs).

“This highly secure solution has been met with great enthusiasm at the relevant trading platforms. What is more, Chainlock is also the perfect token container for STOs pursuing a retail strategy,” YOUNIQX added.

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— cardwallet.com (@CardwalletCom) June 6, 2019

The company has also partnered with Singapore-based Tokenize Exchange and Coinfinity in Central Europe for direct support of the cold wallet.

Identity security and Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term

Founded in 2018, YOUNIQX is a subsidiary of Austrian State Printing House Group which is focused on the development of secure digital identities. The parent company, on the other hand, is a full-service provider of identity and e-government solutions and develops, implements, and offers personalized solutions for identity documents.

Amid the rise in illegal activities involving crypto, cold wallet platforms for Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term are getting more and more attention. Last week, Finance Magnates reported that Civic Technologies and BitGo are together developing a privacy-focused cold crypto wallet. Though still under development, the company detailed that the wallet would only store a minimum of user data required only for KYC and other compliance purposes.

Meanwhile, due to regulatory uncertainties in the United States, crypto wallet provider Abra restricted its support in the country.