IBM Introduces Secure Signing Technology for Cold Storage of Digital Assets
IBM has developed a secure signing technology called Hyper Protect Offline Signing Orchestrator (OSO) to manage digital assets in cold storage. This solution reduces the risks associated with manual transaction authorization and keeps assets offline, away from the internet.
Advancing Cryptocurrency Security and Compliance
OSO eliminates the need for manual transaction initiation and execution, reducing vulnerabilities. It can be configured to send transactions from cold storage to the blockchain only at specific times or with the permission of a multibody governance scheme, enhancing security measures.
This technology allows IBM to offer institutional cryptocurrency investors advanced solutions for risk management and compliance with regulations surrounding digital assets. It is expected to be commercially available in 2024.
IBM and Metaco Enhance Cold Storage Security
The main source of vulnerabilities in cold storage is human contact, which includes insider trading, forced attacks, operational failures, and outdated methods. IBM partnered with Swiss custodian Metaco to develop OSO, combining IBM’s technological expertise with Metaco’s digital asset orchestration system.
Metaco CEO Adrien Treccani expressed satisfaction with IBM’s confidential computing division and highlighted OSO’s air-gapped cold storage as a valuable addition to their institutional solutions. This technology meets the increasing regulatory requirements for cold storage in countries like Singapore, Hong Kong, and Japan.
Hot Take: IBM Revolutionizes Cold Storage Management with OSO
IBM’s introduction of the Hyper Protect Offline Signing Orchestrator (OSO) is a significant breakthrough in managing digital assets securely. By eliminating manual processes and keeping assets offline, OSO enhances security measures and reduces vulnerabilities. This innovative solution addresses the challenges of manual transaction authorization and improves overall resilience. With OSO, IBM is at the forefront of providing cutting-edge solutions for institutional cryptocurrency investors to manage risk and comply with regulations. The partnership with Metaco further strengthens cold storage security and meets the increasing regulatory requirements in key markets. OSO’s air-gapped cold storage technology is a valuable addition to Metaco’s institutional solutions. This development positions IBM as a reliable and innovative player in the cryptocurrency industry.
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