Jul 18, 2018 at 06:04
Jul 18, 2018 at 06:04 UTC
First Ever Crypto Vault launching in Australia- says Decentralised Capital
BTC Wires: Decentralized Capital has recently announced its plans to launch a cold storage cryptocurrency vault in Australia, which will be the first ever digital assets vault launched by the company. This vault is the result of a partnership and collaboration between the blockchain & investment company and Custodian Vaults, which is a subsidiary of the Pallion Group (precious metals firm).
Stephen Moss, the founder, and director of Decentralized Capital commented that this all-new crypto vault would take full advantage of the growing digital currency market of Australia. This, according to him, is a sure shot sign of the bona fide of bitcoin, which is why it is expected to stay for a very long time.
Moss also mentioned in a recent interview with the Australian Financial Review that the crypto industry is in dire need of reliable and secure crypto custody services. Pertaining to his thoughts on resolving this issue at hand, he mentioned, “This is a solution for the next phase of the industry, and it gives real security…You can’t hack your way into the safe…In my opinion, bitcoin will not be remembered as the bubble, but the pin. While the short-term future of bitcoin may be debatable, the blockchain and its benefits are not.”
It is interesting to note here that cold storage is not a new concept at all as many crypto holders do use USB drives and other computer peripheral storage devices in order to store their crypto wallets. However, the challenge here is that storing them in these devices may very well make them susceptible and put them at a high risk to be misused by hackers upon connection with the internet. Even if we do not put them online, there is a definite risk of physical theft which cannot be disputed.
Hence, this cold storage vault comes as a great news for crypto users and is a step in the right direction in the evolution of digital assets around the world.