The client was a trusted fintech leader with over 20 years of experience developing innovative security, payment, and digital storage solutions worldwide. The client had a cryptocurrency cold storage hardware wallet that protects crypto and secures private keys with 3-factor authentication. The cold storage wallet Key Card was a sleek, metal card with leading-edge embedded security technology including a CC EAL6+ Secure Element Hardware Classification to securely generate and store private keys. The crypto NFT mobile wallet components were missing from the client product portfolio.
Digital Asset Management
Periscope helped client in the development of their NFT mobile wallet for both iOS as well as android. The client wallet was built using BRD Walletkit where the walletkitcore was modified for use with the metal card. The method for key generation, block signing, and wallet creation and recovery was modified. The solution provided by Periscope enabled the client to offer their own enterprise-grade digital wallet solution to their customers to receive easily, hold, and send digital assets without setting up a complex backend system required for any blockchain solution. The backend system handles all cryptographic functions and blockchain communications, while the prebuilt Android and iOS libraries helped in rapid platform-specific development thus enabling the client to focus only on the business, not the complex backend infrastructure. The wallet was enhanced with support for ERC 721 and ERC1155.
Private keys were generated, encrypted, and stored in the Secure Element on the Key Card. The Key Card doesn’t use cables or USB connections and never runs out of power. Unlike other devices, the Key Card is shipped locked, meaning the code on the card can’t be updated so it isn’t possible for hacked or infected code to be introduced. The Key Card communicates with the Wallet App via secure NFC which for security purposes has a range of only a few centimeters, unlike Bluetooth which has a range of 10 meters. Users’ private keys never leave the Secure Element on the Key Card, and the card is necessary for signing all transactions. NFT support was missing from the wallet and thus Periscope proposed to build a unified view of all Ethereum NFTs (non-fungible tokens) and crypto collectibles in one place where an NFT can be found using: Token ID, Wallet Address, Smart contract address, Creator.
The periscope solution enabled the client to have a crypto wallet along with the NFT support functionality which helped the client to get more users interested in NFT related cryptoactivities.
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