Discover Spatium Wallet SDK — the solution for effortless non-custodial crypto wallet creation. Enhance security, user ownership, and blockchain compatibility in your projects.

Spatium is a powerful software that streamlines non-custodial crypto wallet development. It removes the burden of coding, testing, and implementation, allowing businesses to focus on achieving their goals.

Spatium is launching Wallet SDK soon, aiming to simplifying non-custodial crypto wallet development. With insights gained since its pioneering use of Multiparty Computation (MPC) technology in 2017, Spatium introduces the non-custodial Spatium Wallet SDK to build secure, user-centric wallets for the web3 era.

Spatium’s lightweight yet powerful encryption core, the Wallet SDK, prioritizes user needs. Users maintain full ownership of digital assets and manage wallet interactions with business servers, fostering user loyalty and retention.

Wallets powered by Spatium Wallet SDK confirm transactions through encrypted secrets scattered across various locations, enhancing security. The absence of a Single Point of Failure (SPOF) ensures wallet integrity, even if one secret is compromised.

Designed for accessibility, Spatium Wallet SDK benefits both non-technical users venturing into web3 and blockchain enthusiasts. The adoption of Spatium’s MPC encryption contributes to wider crypto wallet usage, fostering business growth and competitiveness.

Furthermore, Spatium Wallet SDK facilitates easy wallet access restoration, including encrypted biometric backup, in case of device loss or server issues.

With blockchain-agnostic design, Spatium Wallet SDK supports transactions across EVM-compatible chains and major blockchains. Available natively for iOS and Android, with a Typescript-written SDK for web apps, it offers comprehensive cross-platform support.

Remarkably compact at less than 3 MB, the Wallet SDK accelerates time-to-market by tenfold and optimizes budgets. This allows businesses to allocate resources to new product development, providing seamless user experiences in the crypto world through Spatium.

For more information and business benefits, reach out to Spatium directly.

Originally published at https://spatium.net on August 29, 2023.

1. Race to a super web3 non-custodial wallet: what wallet do you use?
About 20–28% of crypto users tried non-custodial wallets in 2022 and we expect such share increase in 2023. According to Buterin, one of the top 3 trends in 2023 — development of the wallet that can be used by 1B+ users (mass adoption). The race is on with about 240+ wallets on the market (https://medium.com/huobi-research/the-wallet-segment-a-shining-star-in-the-crypto-winter-the-status-quo-challenges-and-69e24d27930f).

2. Regulators will attempt to regulate DeFi: MPC offers the solution?
Proposed Digital Asset Anit-Money Laundering Act seeks to require even web3 wallet providers to comply with KYC/AML rules. Metamask started to collect data on users (especially if you use Infura as your default RPC provider). So regulated institutions need to look for solutions given desire by users to use Dapps. (https://www.financierworldwide.com/qa-digital-assets-fraud-and-anti-money-laundering-aml).

3. MPC/TSS wallets vs PKI: it’s easy just words scary))
MPC solutions combined with advances in AI (face recognition) will attract more interest in 2023 as need to store private keys (seed phrases) limits mass adoption and flexibility of wallets. (https://medium.com/1kxnetwork/wallets-91c7c3457578).

4. Infrastructure projects (L2, sidechains), Ethereum take over in 2023: tech crypto rules!
Next bull market for crypto in 2023 will be driven by such infrastructure projects such as Polygon, LINK, Arbitrarium, TWT (may be Metamask token) as investors and enterprises will look for value-added solutions vs. speculative price appreciation. L2/L1 TVL ratio can reach ATH in 2023 (>15%).(https://l2beat.com/scaling/tvl ).

5. ZK-SNarks — simplifiy everything: 2023 is the year of ZK — SNarks?:
Both Buterin and CZ claim that ZK — SNark not only sounds cool but also simplifies and make more efficient solutions for many issues. In brief, Zero-Knowledge (ZK) algorithms can provide proofs without revealing sensitive information. (https://www.binance.com/en/feed/post/75513)

6. GameFI / Metaverse hype in blockchain will cool off in 2023
NFT + gaming seems to be a perfect match but creating AAA gaming experience using blockchain has yet to materialize. However, we may see several mind-blowing speculative bubbles in the space, especially if GameFi can use advances in AI. It is marketing driven now.

7. Fragmentation and disintegration of crypto exchanges: white labels and outsourcing
BCG research (July 2022) pointed out CEXes can be regionally fragmented due to the regulations while some VCs see trend to breaking custody, trading etc. by different players. So, making everything in-house is out of fashion.

8. Finance like features (staking, lending) attract new investors to crypto
Scheduled for March 2023 Shanghai hardfork of Ethereum will enable withdrawals of staked ETH — a boost for the industry as users look for some price stability and earning opportunities vs. speculations. P.S. Proto — dansharding and EOF (EVM-object-format) may be implemented later ))) more buzzwords.

9. AI advances overshadow blockchain or AI merges with blockchAIn?
The world outside of crypto is fascinated with Midjourney (https://midjourney.com ) visuals and chatGTP(https://openai.com/blog/chatgpt/) looks like a game changer for text content creation (including software). Could we see the exodus of the talent and the public interest to AI from blockchain? Or can we see growth of AI application to blockchain: Biometrics as recovery for passwords, for example?

10. NFT will be used as part of many infrastructure projects: phygital is word of 2023?
NFT hype helped to increase the interest to blockchain and crypto overall one thing for sure: NFT is the great technological innovation and it NFT (as the technology) here to stay. In 2023 we will see more and more use of NFTs from phygital (https://showpiece.com/) to PKP (Programmable Key Pair) generation (https://litprotocol.com/) for MPC wallets.

Due to different reasons, mainly security and availability, traditional companies nowadays are making their paths to the aborning world of Web3, which is a catch-all term for cryptocurrency infrastructure, decentralized networks, DeFi, NFT, and other blockchain-powered DApps and platforms.

According to TechRepublic, in 2023 the Web3 sector is estimated to be of $6 trln worth. In addition, the Alchemy report indicates the whopping tempos developers are joining Web3 infrastructure. We suspect that the widely used number of 18K monthly active blockchain developers as stated for December 2021 has already been surpassed. One of the examples could be a 10 times increase in essential blockchain libraries’ weekly downloads since 2018, which gives us a glimpse to assume that the number of developers has also grown. It’s quite logical to take a wild guess and say that the number of Web3 users is also increasing. Based on the Crypto.com report, the expected number of users by the end of 2022 will hit 1 bln.

The expansion of Web3 makes businesses turn their heads toward innovation and the ability to provide clients and end-users with top-notch technologies, but the complexity of engineering in Web3 could play a cruel joke with unprepared individuals especially if the talk is about cryptowallets. Well-known practices such as key management, switching between blockchain networks, private key protection, or account restoration are unusual if not to say completely alien to many Web2 users who are trying to take their first steps in the blockchain environment.

While the infrastructure of the blockchain ecosystem keeps growing and developing, bringing users broader opportunities for self-realization within the Web3 network, the challenging nature of many existing cryptowallets raises difficulties in mass adoption.

Importance of Secure, Robust, and Convenient Web3 Wallet

Unlike Web2, Web3 users should have in addition to a gadget and the Internet connection, a cryptowallet which is the only access point to Web3. Many traditional companies that want to enter blockchain infrastructure are confused because there are many variants to choose from: hot and cold wallets, hardware wallets, paper wallets, desktop, mobile, web wallets, custodial, and non-custodial. Moreover, based on the needs of your business you may either buy a license or get a subscription for a cryptowallet technology frame, or even build your own solution from scratch, which is time-consuming and expensive. Also, the latter option could be challenging, because finding a team of blockchain developers skilled in advanced technologies is not that easy. The more convenient yet protected a cryptowallet is the better chances a service provider has to please its clients and end-users.

We are excited to inform you that very soon, there will be another way to build a secure, and highly-functional Web3 wallet effortlessly and absolutely for free. Spatium is launching its revolutionary open-source platform — Spatium Web3 Wallet Builder, which is designed to eliminate the obstacles preventing cryptowallets from mass adoption. Its frameworks help developers add tailored functionality using out of the box presets or provide their unique wallets with any other custom feature.

5 Top Reasons to Use Spatium Builder

1. We Have Solid Expertise in Web3 Wallet Development

Our blockchain enthusiasts were the first to apply Multi-Party Computation (MPC) cryptographic technology for crytpowallet development back in 2017. MPC implementation enabled the creation of a keyless wallet and leveraged its performance by connecting more Web3 services. Right now our thirsty curiosity for the application of state-of-arts technologies pushed us to launch the development of a multi-functional Spatium Builder platform to empower businesses and Web3 developers with a robust tool to create competitive solutions.

2. We Have Built Spatium Wallet

Spatium has been on the market for cryptowallet development since 2017. In 2021 we delivered the Spatium wallet solution which is praised by users and companies for its high level of security, functionality, and user-friendliness. Being able to apply top-notch technologies and meet the expectations of our clients, we came to a clear understanding of what the ideal cryptowallet should look like. Our vision is reflected in Spatium Builder functionality which aims to bring scalability to your projects and leverage your business.

3. We Are Reliable Partners

The range of our clients is various, from Layer 1 Blockchain companies to neobanks and traditional financial institutions. Some of our clients are Neobanks such as Wirex and Cogni, and the Everscale blockchain protocol. The total amount of Spatium Wallet downloads exceeded 100K. Wallets minted on Spatium Builder will match the needs of any industrial sphere and meet the requirements of communities with complex, custom needs as the goal of the Spatium wallet is to provide robust, yet effortless access to the Internet of the Future.

4. We Take Businesses to Next Level

Spatium Wallet Builder allows decreasing time to market and saving your budget 10 times! The platform is created by developers and for developers. Upon request, Spatium blockchain team could provide Architecture, Design, Development, and DevOps services. We know you would love our libraries with prebuilt modules and will be happy to find out the well-known technologies you have already mastered behind them: React, NodeJS, Capacitor, TypeScript, etc. The documentation provided is detailed and the code is neat.

5. We Have Much More to Offer

By the end of 2023, we are planning to deploy the Version 1 Spatium Builder open-source for documents, modules, and frameworks. The Q3 of 2024 expects to witness the deployment of Version 2 Spatium Builder with module marketplace and crypto SDK for MPC wallets. In 2024 we will provide the ability to create wallets with any number of signatories. By the end of 2024, we will enable sending crypto without native coin through MPC.

Spatium Builder is an ideal solution for the speedy, convenient, yet technologically advanced development of a cryptowallet, which your clients will love. Our expertise resulted in harnessing complicated and powerful technologies to serve your business goals and open the world of Web3 for mass adoption.

Spatium Wallet Builder provides space for your company’s strategic growth by solving trivial development tasks regarding Web3 wallet creation. Also, we will be happy to gather a vibrant community of developers and Web3 enthusiasts on our platform. We love people and talking to people, and you have a lucky chance to try it out by scheduling a call with our CEO. Also, we are open to email communication in case you would like to know more about the Spatium Builder project and discuss your place in it.

Spatium is a universal platform that allows building solutions for storing and managing crypto assets. It is based on a secure multi-party computation protocol, which is used as a foundation of the off-chain multisig crypto wallet. This approach combines the benefits of custodial (when the user does not own the private keys) and non-custodial (when the user owns the private keys) crypto wallets.

Spatium keyless personal wallet, based on SMPC technology and anonymous biometrics, allows you to manage digital assets without a Private Key. It’s replaced with an encrypted set of secrets distributed between your device and professional security provider. It means that:

- nobody has access to the funds except the user

- the funds still be safe even if the device is hacked

- even if users lose all credentials, they can recover the wallet using their face.

Decentralized finance, or DeFi, aims to use technology to remove intermediaries between parties in a financial transaction. At the moment, current wallet users are able to

• Earn interest with major DeFi protocols
• Use any dApp with Wallet Connect protocol

Spatium personal wallet is compatible with Compound and Aave — secure open-source DeFi interest rate protocols granting users earn interests on crypto operations within the mobile app. These integrations are recognized as the easiest and operative way of making deposits and borrowing assets. Wallet connect protocol allows connecting any decentralized applications or Web 3.0 services to the Spatium wallet with QR code scanning or deep linking. You can deposit on Aave and Compound directly from the wallet interface. If you’re an advanced DeFi user, you can use Wallet Connect to interact with any other applications.

Further version updates and releases will allow the users to proceed with the following actions within its functionality:

• Invest in indexes and synthetic assets
• Invest in auto-trading strategies and ETFs
• Borrow, using crypto as the collateral
• Stake crypto

Download Spatium personal crypto wallet application on Google Play and the App Store.

BestStartup Asia is managed and owned by Fupping LTD, a London-based media company. Its aim is to promote the greatest Asian companies, businesses, and innovations on the global stage.

The startups and companies were chosen according to their approaches and the impact they make within the Security and Cyber Security industries.

The selection criteria included:

- Innovation
Innovative ideas
Innovative route to market
Innovative product

- Growth
Exceptional growth
Exceptional growth strategy

- Management
- Societal impact

At Spatium, we provide handy and secure access to digital assets with advanced biometric technologies. Spatium’s White-label MPC client-side wallet solution for institutions and financial services, designed to free your clients from custodial/non-custodial dilemma, provides the next level of security and simplicity within the crypto.

Thanks, BestStartup Asia for featuring Spatium among the best industry leaders!

Spatium is among TOP Singapore Security and Cyber Security companies and startups was originally published in Spatium Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

BestStartup Asia is managed and owned by Fupping LTD, a London-based media company. Its aim is to promote the greatest Asian companies, businesses, and innovations on the global stage.

The startups and companies were chosen according to their approaches and the impact they make within the Security and Cyber Security industries.

The selection criteria included:

- Innovation
Innovative ideas
Innovative route to market
Innovative product

- Growth
Exceptional growth
Exceptional growth strategy

- Management
- Societal impact

At Spatium, we provide handy and secure access to digital assets with advanced biometric technologies. Spatium’s White-label MPC client-side wallet solution for institutions and financial services, designed to free your clients from custodial/non-custodial dilemma, provides the next level of security and simplicity within the crypto.

Thanks, BestStartup Asia for featuring Spatium among the best industry leaders!

Spatium releases a new version of the keyless mobile crypto wallet Spatium 3.0 that is already available as a ready-made application on Google Play and the App Store.

Spatium is a universal platform that allows building solutions for storing and managing crypto assets. It is based on a secure multi-party computation protocol, which is used as a foundation of the off-chain multisig crypto wallet. This approach combines the benefits of custodial (when the user does not own the private keys) and non-custodial (when the user owns the private keys) crypto wallets.

Spatium wallet, based on SMPC technology and anonymous biometrics, allows you to manage digital assets without a Private Key. It’s replaced with an encrypted set of secrets distributed between your device and professional security provider. It means that:

- nobody has access to the funds except the user
- the funds still be safe even if the device is hacked
- even if users lose all credentials, they can recover the wallet using their face.

Spatium 3.0 is to prove its benefits in terms of security and functionality. In a time of widespread security anxiety, it’s highly important to make sure your data is safe. Сrypto assets wallet solution with no Private Key provides strong security for personal and enterprise assets.

Spatium crypto wallet is experienced in rapid progress in developing high functionality mobile app. The new version of the wallet presents a fully redesigned app interface with a unique UX/UI. What is more, enhanced crypto security of the digital assets and improved registration procedure via anonymous face biometrics backup technology let the users experience the safest and convenient way to manage their digital assets. The wallet allows to receive and transfer crypto assets, display balance and operation history.

Wallet overview provides detailed information about the current balance of each specific cryptocurrency, fiat balance, transaction history, exchange rates, and recommended commission values for a specific cryptocurrency. Data is provided in real-time (with regular update intervals) from external sources.

According to Spatium project’s CEO, Geray Yusifov “This wallet builds a new security and flexibility paradigm for all blockchain users and ensures the users need no private key, no paper backups, no 3rd party control. Spatium 3.0 will become the starting point for bringing more functional updates to the app. Stay tuned!”

Looks like the future of conscious crypto security has already begun with Spatium.

About Spatium

Spatium builds advanced crypto wallet infrastructure for retail users and businesses willing to provide crypto functionality to its customers. Our proprietary SMPC technology eliminates the need for storing Private Keys and the single point of failure by separating control over funds from the responsibility for security. Unique anonymous biometric backup functionality helps users easily restore access to funds and not to be dependent on a particular device. Our aim is to put crypto in the hands of more people around the world and increase their economic freedom.

Spatium releases a new version of the keyless mobile crypto wallet Spatium 3.0 was originally published in Spatium Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

We are thrilled to announce that Spatium is now supporting the NEO token in our renewed Keyless Wallet available both on Android and iOS.

NEO Blockchain has played an essential role in the development of the Decentralized Economy since its establishment. We are proud to support the NEO infrastructure with our MPC and threshold signature technology since the initial launch of Spatium.

Spatium is the first Keyless Non-Custodial Wallet supporting NEO with brand new user experience in managing digital assets for the NEO community :

• No Private Keys to protect
• No Seed Phrases to remember
• Privacy first anonymous biometric Backup
• Sharing the responsibility for the security with professional security provider
• Simple NEO and other crypto purchases with Credit Card
• Exchange NEO via Coinswitch

Spatium also supports Bitcoin, ETH, and other major Blockchains, including many more advanced functionalities to create a convenient and seamless user experience.

Stay tuned for our upcoming developments and updates. Many more exciting features are yet to come. Download Spatium today and enjoy the easiest way to store and trade NEO!

Geray Yusifov

CEO/Co-Founder

https://spatium.net/

https://t.me/spatiumwallet

https://medium.com/spatium-blog

https://twitter.com/spatium_news

Download Spatium Wallet now on Android and iOS.

The situation on the crypto market shows that storage solutions based on the one-point-of-failure concept are not worth a risk to keep funds in them. This statement is fair even for cold storages, which are represented as the most secure and convenient option in the industry: personal devices and hardware on the side of third-parties were compromised not even once. At the same time, exchanges and other companies are looking for ways to get rid of exploits, increase their reputation and quality of services, plus attract more audience, while users are seeking a way to keep their funds as safe as possible and stay connected to the liquidity and promo actions of exchanges to be ready for sudden market changes. With that said, we need a solution in which funds could be kept offline not in one place, yet fund’s owner could have full control over them from his device and have a connection with a crypto service all the time. We are building such a solution — it is called Spatium Hybrid.

How it works

In the core of our system is Spatium Protocol. It’s based on a variety of well-proven algorithms: Secure Multi-Party Computation (SMPC). The combination of these technics with biometry provides us with an ability to offer a secure, flexible, and easy-to-use solution without the private key and backups.

The private key is replaced with the set of secrets that are generated, stored and processed independently and never occur in one place. The secrets are generated directly from the user’s biometry with every single use. Biometric data is not stored anywhere and can’t be extracted from the secrets. Users can store the secrets on N devices on their choice. To perform any action with funds, the transaction must be signed by M-of-N devices (sounds like multisig but it’s not). The signing process is off-chain, so it’s faster then on-chain solutions. Each secret has its own permissions and can’t be used to take actions with money without fund’s owner consent.

While, generally, we provide everyone with the opportunity to store secrets on N devices on their choice and be their own custody, we see Spatium Hybrid as a solution for those who want to share the responsibility for the fund’s safety with the professional-level Security Provider and be able to manage their funds very fast. The user can choose the entity he interested in from the list.

Spatium Hybrid uses two secrets:

Secret A is stored on user’s Wallet Device and is used to initiate transactions and manage funds from phone, desktop or watches.

Secret B, used for confirmations, is stored on the side of the Virtual Device (Security Provider). Such an entity can be a custodial service, centralized or decentralized exchange, bank or Spatium itself.

The process of work with Security Provider works as follows:

1. The user installs the Spatium software on his device;
2. Creates a wallet and locally generates Secret A with his biometry;
3. Chooses the Security Provider, which will keep safe Secret B, and sets permissions;
4. The institution receives a request and generates Secret B on its side. From this moment the user can perform actions with the funds;
5. Secret A can be used to sign the transaction, while Secret B on the side of the professional Security Provider will be used to confirm the transaction.

As the Security Provider has only its own secret with the specific set of permissions, no actions can be performed with funds without the user’s consent. If Security Provider will be compromised (hacked or secret will be stolen by employe), attackers still won’t have access to funds, as to gain access to funds they also will need a Secret A, stored on the users’ side.

Our system provides the ability to distinguish the responsibility over funds from the control, giving decentralized and centralized services an opportunity to offer for their clients secure storage solutions, while users will enjoy fast and convenient funds’ management.

Advantages and benefits

Such an architecture provides users and Security Providers with benefits that are unique on the market.

For users:

• No private key. It is eliminated from the system;
• No backups. The secret is in you;
• Instant transactions from users’ wallet. As the user and exchange/bank are connected (if chosen as a Security Provider), he will have access to instant withdrawals/deposits/trades right from the users’ wallet with on-chain confirmations processed afterward;
• Non-custodial solution. Digital assets are not stored in one place, which makes them more secure;
• Institutional-level security under your control. Funds are protected by security professionals and the user retain full control over his money;
• You set permissions. Each secret has its own permissions set by the user and Security Provider or attacker can’t get access to coins without users’ secret;
• Blockchain-agnostic. SMPC technology is blockchain-agnostic and supports any coin or token from the box;
• Universal addresses. Unlike multisig, SMPC-based addresses can be used in DeFi and dApps;
• Responsibility deligation. The user can get the secret’s backup, stored on the Security Provider’s side, by request;
• Conditional authorization. The private key provides full access to funds, and if it will be stolen it can be used to withdraw all funds without limitations. With a set of secrets, this can be solved.
• Legal. Businesses can satisfy legal requirements without centralized custodianship.
• Insurance. If the customer has no full single access to the funds, they can be insured.

We are working on the implementation of additional features for every party, as we believe that only win-win approach is the right one.

How we deal with backups

We use biometry to provide everyone with the most secure and convenient way to manage funds. Also, we believe that:

the best way to keep your data safe — not to store it at all

With that said, we don’t store any biometric data and any images of it anywhere. Instead, when the user has randomly generated Secret A on his device, our app creates a neural network and sets its parameters so that it could convert face data to that secret. Parameters of the neural network, which are not sensitive data, then are bonded to users’ email and stored on the side of the security provider. If the user loses access to his device, he can get a new one, install Spatium Wallet App, enter the email used for registration, and generate from his face Secret A again with the parameters of the neural network.

Sitting on both chairs

Spatium Hybrid solution solves one of the oldest problems of the crypto industry — the choice between high security level of funds and the access to big trading volumes. Now funds can be managed from cold storage with convenient and fast access to liquidity, while Security Providers have the opportunity to attract more users and offer them new features, some of which are unique on the market and were missing for a long time.

In the following articles, we will explore in detail Spatium Hybrid implementations for banks and exchanges with benefits for each type of Security Provider.

Spatium develops solutions to store and manage digital assets powered by SMPC and biometry. In our technology, the private key is replaced with the encrypted set of secrets, stored on behalf of funds owner’s devices, individuals and institutions, chosen by him. Even if some of the parties are compromised — funds will stay safe. Such an approach dramatically decreases the risk of theft and provides a previously unavailable level of flexibility and unique benefits for everyone on the market: no single point of failure, easy recovery, no need in backups, blockchain agnostic, access levels differentiation, instant crypto/crypto and crypto/fiat exchange, fully compliant solution, support of dApps and DeFi services, etc.

There is a tendency of new approaches in the IT-space appearing, aimed to protect users’ private data from hackers. As a security aspect must be balanced with usability and speed, it is a good move to choose biometry as an authentication method (we mentioned the benefits here). Technology, previously used in the institutions of government security level, is now adopted worldwide by manufacturers of mobile devices. Users are interested in such solutions, as they provide a secure and convenient way to access services (from a simple phone unlock to signing a transaction in a crypto wallet). Some people even implant NFC chips under their skin to avoid storing private keys and have access to their bitcoins “by their hand”. However, there are less radical ways to achieve the same goals.

But there is a problem with such data leaks. We have discussed the inability of IT-giants to store biometric data privately, as it’s a very sensitive subject. Let’s explore the Spatium vision — not to store biometrics at all.

Face pass

As has been said, we create security solutions for safe and convenient funds management, based on SMPC technology and open-source approach. In our system, there are two types of devices:

• Wallet Device. Manages funds and initiates transactions with Secret A. The following solutions can act as Wallet device: desktop, phone, browser extension.
• Confirmation Device. Confirms transactions with Secret B (the number of parties storing a secret can be unlimited, but right now we will focus on two entities). Can be in next forms: personal device (Phone, Watches), Virtual Device (a professional security provider on your choice which guarantees the protection of institutional level), Biometric Wallet (generates secret from biometry with every use).

These devices have one in common — The secret is in You.

As we pointed out before, the wallet uses two secrets: one on the Wallet Device and the other on the Confirmation Device. Let’s explore how biometric backup for the Wallet Device works. Secret A is generated randomly on the Wallet Device of the user (all process takes place locally). Then Spatium Software Wallet App creates a neural network and sets its parameters so that it could convert face data to that secret. Parameters of the neural network are not sensitive data and are stored in bond to users’ email in a cloud. If the user for any reason loses access to his phone, he can install Spatium Wallet App on the new phone. All what he needs to access his account is to download the app, enter the email used for registration, and generate his secret again with the parameters of the neural network. Spatium uses advanced liveness technologies, which can define a real face from a photo, video or mask. During the secret restoring to pass the challenges, users must show specific emotions, look a specific direction, etc. All this happens locally. Now you will never lose your secret.

Important: for the one secret several neural networks can be configured, able to generate it from several faces. It can be useful in case of death of the funds owner/he is got in jail or lost, to provide his family with access to the funds after one year of the account inactivity.

Raising the bar

Users can use Biometric Wallet in the role of confirmation device for additional security with maximum convenience. Biometric Wallet is a hardware device in the shape of a debit card with the fingerprint sensor and the display. The display shows users’ portfolio and information about transactions signing. Wallet Device and Spatium Biometric Wallet can be connected via Bluetooth or another wireless standard. Biometric Wallet generates the confirmation secret from the fingerprint (or set of them) during each use.

No images of fingerprints are ever stored on such a device.

If the Biometric Wallet is lost, the user can buy a new one (or borrow it from a friend), generate his secret from the finger, and also get access.

Malicious actors potentially can make a copy of a user’s fingerprints left somewhere (elevator, cafe, car, etc.) but this won’t give them the ability to perform any action with funds, because they will need to compromise the rest of SMPC parties with secrets, and the customer can pre-program a sequence of 2 or more fingerprints for that case.

Be the key to your story

The biometric data not only can — it must be managed most securely, without sacrificing usability. We believe that the combination of SMPC technology with an open-source approach is a way to achieve that. And that’s why we delegate the full control over the funds to you.

In the next article, we will present to you our solution that solves one of the oldest problems of the crypto industry — the choice between high security level of funds and the access to big trading volumes. Keep an eye on our updates.

#spatium_vision

Spatium develops solutions to store and manage digital assets powered by SMPC and biometry. In our technology, the private key is replaced with the encrypted set of secrets, stored on behalf of funds owner’s devices, individuals and institutions, chosen by him. Even if some of the parties are compromised — funds will stay safe. Such an approach dramatically decreases the risk of theft and provides a previously unavailable level of flexibility and unique benefits for everyone on the market: no single point of failure, easy recovery, no need in backups, blockchain agnostic, access levels differentiation, instant crypto/crypto and crypto/fiat exchange, fully compliant solution, support of dApps and DeFi services, etc.