Did you know that over 5 million Bitcoins have been stolen since 2011, representing a loss of over US $10 billion? 4 million Bitcoins were lost in 2017 alone.
Optherium, as Blockchain-as-a Service Provider, founded a solution — MultiSecure™ Data Vault that protects digital assets from hackers.
Problem: usually sensitive information is stored in centralized databases, where it can be compromised, hacked or stolen
Solution: MultiSecure™ Data Vault
MultiDecentralized Data storage.
Act as an additional level of security. Exceptionally secure environment of data storage for organizations. It uses technology of Multidecentralization to split data into pieces, duplicate it, encrypt, archive and distributes across the private blockchains network. Each piece of data uses its own random unique encryption/decryption method. It include multi-signature transactions, peer-to-peer blockchain roles and permissions, geolocation, multi-factor authorization, cold storage and dynamic biometrics-based verification and much more. There are a 3 types of MultiDecentralized Data Vault:
- Local — data stored inside company
- Cloud — data stored outside company
- Mixed — data shared between local and cloud storage
MultiDecentralized Data Storage can be seamlessly integrated into the existing business by custom API’s. Additionally, Optherium guarantees legal compliance — GDPR, AML, IRS, etc. You can find the full list of MultiSecure™ Data Vault benefits below.
MultiSecure Data Vault can be useful in numerous areas! Take a look at the list of institutions that benefit from use of this technology:
— Law firms
— Social Networks
— Broker Firms
— Security service providers
— Accountant firms
— Government facilities
— Military sector
Case #1 GDPR Compliance
The General Data Protection Regulation (GDPR) is a regulation in EU law on data protection and privacy for all individuals within the European Union and the European Economic Area. GDPR addresses the export of personal data outside the EU and EEA areas.
If an organization operates with EU citizen’s data, it is required to store this data in compliance with GDPR framework, even if the organization itself located outside the EU. Penalties for non-compliance to General Data Protection Regulation (GDPR) can result in fines of €20 million or 4% of annual turnover.
By using Optherium’s MultiDdecentralization, businesses can save money and do not have to worry about actively delegating and assessing risks for their end users.
Users’ data is split, encrypted, archived, and distributed across the MultiDecentralized Private Blockchains Network™. Only the users can receive access to decrypt and manage data. Users can also set roles and permissions to other users to share access to personal data.
Case #2 Banks
Banks implement biometric verification to minimize the unauthorized use of credit and debit cards.
Banks store biometrics data in centralized databases. If the centralized databases are hacked, the user biometrics will be compromised forever.
Optherium Data storage Vault uses patented Multi-Decentralized Private Blockchains Network technology to split and encrypt data.
Data is no longer centralized. Data cannot be compromised because it is encrypted, split and stored in different blockchains and filing systems.
Case #3 Social networks
Social networks store data in centralized storage and have a full access to users data.
User’s logins, passwords, personal data, photos, credit/debit card information and etc., can be compromised, lost or stolen. Individuals and companies are thus held responsible for compromised information.
Multidecentralized data storage ensures that only the user has a key to his/her personal information. User’s login and password storage is impossible to compromise. Users credentials are stored on the client side. Users are responsible to store and recover their own credentials.
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