Purely cold wallet solutions provide offline secret data storage, but SPOFs (single-point of failure) cause security to remain fickle:
If private keys are stored in one place, then hackers only need to breach one layer of security to access your account/wallet.
Hardware is not built to last forever. Firmware Is rarely audited properly and cold storage devices like Ledger relies on the security of the MCU implemented and language that it’s based on.
HSM hardware is expensive and administrating it needs to be done by a trained IT consultant.
We combine 3 layers:
We use Cloud to store a passphrase that we use to decrypting the DLT based shares.
The SafeKey or Inheriti Mobile is used to store shares data. Our SafeKey is our custom FIDO2 based hardware device. Inheriti Mobile will provide an alternative to SafeKey and will store benefactor shares on your mobile device claimed from the Inheriti Vault.
As last, the Distributed Ledger Technology (DLT) is used to store our validator and DMS Shares.