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Privacy and security have never been so important, as technological advancements increasingly undermine trust. This is particularly pertinent to the financial services industry, which has seen banks confronted with the task of bringing their systems into the digital age, without jeopardizing cybersecurity.
As cryptocurrencies march towards the mainstream, they too face this issue. With no banks to carry the burden of fraud, there is no recourse when hackers successfully break security and steal their tokens. Much of the technology currently available amounts to simple interface wrappers around an already complex system, doing nothing to alleviate this burden.
Thankfully, there are organizations and companies working to resolve this issue. Proxy Card, a company founded in Scottsdale Arizona, has found a way to make entry into cryptocurrencies easy for users without sacrificing security. Their solution leverages multi-factor authorization technology to add a layer of security on top of current crypto platforms. It can leverage either the biometrics of a user’s mobile device, or the built-in NFC card reader that is currently used by payment platforms such as Apple Pay or Google Wallet.
After months of development and rigorous testing of Proxy Wallet beta version, Proxy Card CEO has announced that Proxy Wallet will be officially launched on 30th January 2018. It will be available for free download on their website, www.proxycard.io, and on their main strategic partner, eBitcoin’s website, www.eBitcoin.org.
eBitcoin is a decentralized community-driven crypto ecosystem which aspires to solve the transaction cost, speed, scalability and smart-contract inefficacy concerns of the original Bitcoin blockchain by using Ethereum’s more efficient, scalable and interoperable blockchain layer. In short, eBTC is an ERC20 tokenized version of Bitcoin on the Ethereum Blockchain with the maximum supply capped at 21m.
Proxy Card’s recent partnership with the eBitcoin Foundation allows their technology to be leveraged by several other projects. This provides easy access and high-level security while implementing specially-designed features to an ever-growing list of new users in the crypto space. The goal is to make the entire system accessible to as many people as possible as financial services move from traditional, centralized banks to a decentralized global system.
“Proxy Card has been hard at work developing an attractive hybrid wallet with a special focus on the end user that will bring new technologies like cryptocurrencies to the masses. There are rumors that it will have groundbreaking, unique, user-friendly features related to social media. Their focus on ease-of-use while enhancing security is setting a new standard. What Apple did for smart phones they are doing for financial services. I would expect several projects around the world to follow their lead. And with this, they are a perfect fit for eBitcoin´s growing Ecosystem, whose main goal is to make cryptocurrencies easy to access and to spend.” stated a representative of eBitcoin Foundation.
Details of the features are yet to be disclosed, however it is apparent from the available interface that Proxy Card and eBitcoin are aiming for mass adoption.
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