- BitVault to be world’s 1st-crypto communicator
- Company’s main focus is to sell it in fintech and defense markets
- The device to be entirely encrypted and purely an Indian product
BitVault, the mobile phone flaunted as world’s first crypto-communicator is to be 100% Indian product and not even a single Chinese component would be used on the phone. It is to come with advanced security features that would virtually make the entire device encrypted. The phone will mostly be shipped to customers across the globe from November through the door to door secure courier.
Developed conjointly by Embedded Downloads, Ireland and VVDN Technologies, New Delhi, India, 100 engineers, of which, including 40 in Bengaluru, worked on it. The phone is all set to hit the markets as the firms are in talks with several organizations from various countries. The main focus of the developers is on the fintech and the defense market as these are believed to be in need of encrypted devices more than anyone else.
“We’re not calling it a mobile although it does make calls and is compatible with all existing service providers. It’s the world’s first crypto communicator and a blockchain smart device that provides users a secure platform that can only be operated with unique keys generated only by them,” quoted Bansal, VVDN Technologies co-founder and vice-president (engineering), to TOI from Gurugram.
Basically, the device uses biometric identification together with near-field communication technology. The user hence creates private and public keys every time he/she uses the device by employing iris and fingerprints for these keys are not stored anywhere.
“We use the principle that you are the key. All keys for encryption are generated by taking your iris, fingerprints and using NFC. They are generated dynamically and randomly and destroyed upon use. If I make a secure call, it goes through multi-levels of encryption and each key for encryption is generated on the fly and is destroyed soon after use,” Bansal added.
Not just that, the crypto-communicator will use the same cryptographic methods for secure messaging. BitVault® to BitVault® messaging comes with multi-layered encryption. In addition, if a user sends a document created on laptop or PC via BitVault® as an attachment, this document will be transferred to a private blockchain separate from the BitVault® communication environment.
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Both the sender and receiver must download an application on their respective computers to send or receive this document. Keys to open the document will be securely transmitted from BitVault® to BitVault®. This way, third party or outside documents will never enter the BitVault® communication environment, hence, keeping it safe from malware.
It is expected that the blockchain smartphone powered by crypto-communicator is going to use cryptocurrency in all its applications. The device will also come with native pre-installed cryptocurrency wallets– Bitcoin, Ethereum, Bitcoin Cash and EOT.
No solid judgments can be passed unless we use the device ourselves. So let’s just wait till November with our open minds and maybe open doors too!!