Get your assets secured using Goldilock

Cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions. In the last decade, cryptocurrency and blockchain technology has been the trend of the day. While some people tend to enjoy their crypto-business, some were victims of loss and theft as a result of hacking. Cryptocurrencies use decentralized control as opposed to centralized electronic money and central banking systems source. Since banks also engage in internet banking systems, hacking is also a major problem in the banking sector. Read with me as I discuss a solution to the hacking of digital assets. Goldilock is the name!

What is Goldilock?

Goldilock is a platform revolutionizing the way data is stored on the Internet by building an ecosystem to secure cryptocurrencies and digital assets for individuals and institutions. With a functioning platform launched in second quarter of 2018 that provides a remote physical disconnection of data from the internet, the Goldilock Security Suite leverages multi-factor authentication, biometrics, regressive technology triggers, and cryptography to shift the burden of keeping wallets secure away from the individual investor and on to our physically-segregated platform source.

How does Goldilock works?

Goldilock is based on the premise that your data should not be physically connected to the internet when you’re not using it, but that it does need to be available to you from anywhere immediately when you want to access it.

With Goldilock, the security of offline data has been combined with the convenience of online accessibility. Goldilock is online when you need it, offline when you don’t, and available anytime from anywhere.

When a user needs access to their private data, the physical device storing their information is connected to the internet and the user is given limited time access through non-IP technology with secure authentication layers. source.

The Architecture of Goldilock

Goldilock is built on three core premises:

• Users need access to their personal data quickly, but only occasionally and for short periods of time. Otherwise, online data is more useful to hackers than rightful owners.
• Personal data (including private keys) must be isolated, secured from physical contact and related human error, and fully backed-up.
• Personal data and private keys must be quickly accessible when needed. source.

Goldilock's patent-pending technology treats these premises as requirements to make private key custody and personal data storage more secure without sacrificing accessibility. Relying on a framework of proven technologies and innovative processes, Goldilock delivers a unique key custody and data storage solution.

Goldilock uses the NEO platform. Why NEO?

NEO is a non-profit, community-based blockchain project that utilizes blockchain technology and digital identity to:

• Digitize assets
• Automate the management of digital assets using smart contracts
• Realize a “smart economy” with a distributed network source.

In combining digital assets, digital identity, and smart contracts, NEO plans to build a secure blockchain that is recognized by enterprises and governments, which is core to Goldilock's guiding premises. NEO is the first platform to offer a feature set focused on enabling a regulatory compliant smart economy. source.

Goldilock's LOCK Token

LOCK is the utility token that will be used to power Goldilock services. Goldilock will register its digital token LOCK as an NEP-5 asset on the NEO Blockchain.
Users will purchase LOCK tokens which, when coupled with Goldilock's proprietary smart contract logic, will allow for the storage of private keys for cryptocurrencies and other digital assets.

Application (case uses) of Goldilock

The application of Goldilock technology is paramount to independent crypto holders, crypto exchanges, banks, credit agencies, healthcare companies and digital rights management groups.

1. Individual crypto holders
   Using Goldilock, individuals no longer need to tote around a device holding the key to their personal wealth. With Goldilock, private keys are never exposed, sensitive operations are isolated inside your hardware wallet, physically disconnected from the internet, locked in a vault with multi-location redundancy, and accessed remotely via biometric gateways leveraging security codes delivered over multiple device access points. source.

2. Crypto exchanges
   With the integration of Goldilock security's core custody solution, exchanges become a more viable key custody solution by isolating their users from these attacks. source.

3. Credit reporting agencies
   Hacks into credit accounts and credit identities occur daily. The application of Goldilock technology will eliminate the need to have personal credit information online except in times when you, the owner of that credit information, give instant approval for credit agencies to make it available for specific periods. source.

4. Banks
   The application Goldilock solution will allow banks to provide a safer and more convenient wire transfer process than they currently offer their clients. source.

5. Healthcare industry
   Maintaining privacy while still being able to share data with authorized account holders such as laboratories, doctors, pharmacists or other healthcare professionals is proving to be one of the largest stumbling blocks to provisioning better care. source.

6. Digital Rights Management
   Movie and music publishers spend hundreds of millions of dollars annually to protect copyrights and fight against unauthorized distribution of their productions. With the application of Goldilock technology to distributed rights management, these groups can allow for faster distribution of their content while also benefiting from the ability to control who sends and receives their publications. source.

Application Layer

Goldilock provides numerous opportunities to build the next generation of consumer and institutional applications optimized for trust and security through:

• Goldilock Wallet for Cryptocurrency
  The Goldilock Wallet will be developed by the GoldilockGoldilock Core Development team with the initial purpose of storing and transacting NEO, GAS, and NEP-5; making NEO the most secure cryptocurrency on the market. Source: Goldilock White paper

• Goldilock API Services
  The Goldilock API Services will be developed after the Goldilock Wallet by the Goldilock Core Development team. The main purpose of the API services will be to enable institutions that already have wallet solutions to make use of our patent-pending solution for their solutions that require improved security. Source: Goldilock White paper

Conclusively,there are two major storage system; the cold storage e.g. Trezor, Ledger Wallet, Hard drives etc. and the hot storage e.g. Exchanges, online wallets etc. Goldilock is neither a cold storage nor hot storage it is just the RIGHT STOTAGE.