Designed to cater to the African market, Keymaster VAULT is a secure, NFC-based hardware wallet that stores private keys offline, offering an affordable and user-friendly alternative to expensive and complicated traditional hardware wallets.

Leveraging the simplicity of Near Field Communication (NFC) technology, the Keymaster VAULT allows users to securely access their digital assets by merely tapping their NFC-enabled devices.

This eliminates complex installation processes, making the wallet an ideal choice for both cryptocurrency novices and experienced users. With offline storage of private keys, the wallet significantly reduces the risk of hacks and malware attacks associated with online storage.

“We wanted to create a wallet that combines the highest level of security with ease of use, making cryptocurrency storage accessible to a broader audience in Africa,” said Chidera Anyanebechi, General Manager of Hyperspace Technologies.

“The Keymaster VAULT not only provides an affordable solution but also offers enterprise clients the ability to leverage blockchain-based identity and access management, which we believe will be a game-changer in the industry”, Anyanebechi explained.

The Keymaster VAULT’s advanced encryption technology ensures the utmost security for users’ digital assets. Its compact design and portability make it a convenient choice for individuals and businesses looking to store their digital assets securely without breaking the bank or dealing with complicated setups.

“The African market has long been underserved when it comes to secure and affordable hardware wallet solutions,” added Anyanebechi. “We are excited to bring the Keymaster VAULT to our customers and empower them with a hardware wallet that not only protects their digital assets but also opens doors for innovative applications in blockchain-based identity and access management.”

The Keymaster VAULT is now available for purchase at https://keymaster.ng, giving cryptocurrency enthusiasts and enterprise clients across Africa a secure, affordable, and user-friendly hardware wallet solution.

More about Hyperspace Technologies

Hyperspace Technologies is a cutting- edge Web3 startup based in Lagos, Nigeria. The company is dedicated to developing next-level smart security infrastructure and key management systems for the rapidly growing digital asset space.

Hyperspace Technologies’ commitment to security, accessibility, and affordability drives its mission to empower the African cryptocurrency community with user- friendly tools and products.

For more information, visit https:// hyperspace.ng.

When FTX collapsed last year, I wrote about how and why people needed to move their digital assists off centralized exchanges to a wallet they controlled the signing keys aka non-custodial wallets. I recommended a few software wallets but there was a problem. Seed phrases.

Somehow people either wrote down their seed phrases or stored them electronically and were lured into inputting their phrases on bogus sites which led to wallet compromises like the compromise reported in the first image below.

It led to my conclusion. Everyone WILL be hacked – eventually.

I invariably started recommending cold storage or hardware wallets. However a basic, entry level hardware wallet runs over 100k. This is rather expensive for mass market in these parts. Plus the fact that most are also difficult to setup and use.

Late last year I spent some time looking at this problem to see if there could be a way to have a simple to use hardware wallet that was also relatively inexpensive.

During that time, I found an unlikely solution in the technology used for contactless payments – NFC.

You see, most mobile phones (android and iOS) for the last 5 or so years come equipped with NFC technology. I then set out to design a secure smart card system based on NFC, which when paired with a mobile app, would allow anyone have a secure hardware wallet using the NFC chip as secure, encrypted storage – and best of all you wouldn’t need any seed phrase.

I called the hardware wallet the Keymaster VAULT (second image below) It’s a non custodial Web3 Smart Security Module (W3SSM) for digital assets protection. It can be used to safeguard crypto, NFTs and any digital asset compatible with EVM blockchains.

It is a direct replacement for expensive, traditional hardware wallets that are difficult to use.

This also has the benefit that it can be used for secure, passwordless authentication into DeFI, DAO, NFT, Metaverse platforms and any traditional web based application that wants to leverage Web3 auth through the WalletConnect protocol.

And best of all, the Keymaster VAULT costs only N3750 or $5

The general hope is to onboard 1 million users of the Keymaster VAULT in Africa in the next 10 years and introduce Web3 Internet security to enterprises and corporate organizations to combat hacking and electronic fraud.

We are of the opinion that the blockchain can be used for much more than cryptocurrencies, it can be used for Internet security, authentication, identity and access management and we think we’ve cracked the code.

More to come….

[N.B.: This piece was first published on Dr Oluseyi Akindeinde’s LinkedIn page]

#security #blockchain #web3 #hardwarewallet