Big Wind tar­get files patent for crypto se­cu­rity app

Stockwatch Daily - - MINES & METALS - Mr. Corby Mar­shall re­ports

BIG WIND Cap­i­tal Inc. tar­get Hill Top Se­cu­rity Inc. has filed a patent for a bio­met­ric se­cu­rity ap­pli­ca­tion de­signed to pro­tect bit­coin and other cryp­tocur­ren­cies from theft and loss. Miss­ing pass­words and theft have be­come the big­gest is­sues plagu­ing the cryp­tocur­rency in­dus­try, with more than 35 ma­jor re­ported hacks of bit­coin ex­changes alone since 2011, lead­ing to the theft of over 980,000 bit­coins. In to­tal, as much as 23 per cent of Bit­coins mined to date are es­ti­mated lost for­ever (1) (ap­prox­i­mately $30-bil­lion (U.S.) at cur­rent mar­ket value). Hill Top’s bio­met­ric cryp­tocur­rency ap­pli­ca­tion helps solve this is­sue by adding a new, high level of per­son­al­ized se­cu­rity for cryp­tocur­rency users world­wide. Hill Top re­cently signed a let­ter of in­tent with Big Wind, pur­suant to which Big Wind in­tends to ac­quire var­i­ous in­ter­ests in HTSI and its as­sets.

The patent fil­ing cov­ers UxTo­ken: bio­met­ric-en­abled, GPS track­able cryp­tocur­rency pri­vate key safe stor­age. The new ap­pli­ca­tion was de­vel­oped by Hill Top’s in-house team, which com­prises former U.S. mil­i­tary of­fi­cers and per­son­nel. Im­por­tantly, this new cryp­tocur­rency se­cu­rity helps bridge the divide be­tween com­pletely anony­mous trans­ac­tional par­ties and a rea­son­able as­sur­ance of par­tic­i­pant iden­tity,

that is aligned with com­pli­ance re­quire­ments in stan­dard, mar­ket-based as­set trans­ac­tions.

Corby Mar­shall, chief ex­ec­u­tive of­fi­cer of Hill Top Se­cu­rity, said: “The po­ten­tial of Bit­coin and other cryp­tocur­ren­cies is vast, how­ever, it is be­com­ing con­strained by cy­ber­crime, as well as miss­ing pass­words, which can ren­der coins ir­re­triev­able. In fact, as many as 3.79 mil­lion Bit­coins are es­ti­mated as lost for­ever — that’s nearly 23 per cent of all Bit­coins in cir­cu­la­tion, which is close to $30-bil­lion [U.S.] at cur­rent mar­ket value. This patent ap­pli­ca­tion cov­ers our new bio­met­ric cryp­tocur­rency se­cu­rity app, which will pro­vide bio­met­ric pro­tec­tion of these cur­ren­cies, in par­tic­u­lar, with off-line (cold) stor­age and the re­cov­ery of lost pass­words.”

Com­ple­tion of the trans­ac­tion is sub­ject to a num­ber of other con­di­tions, in­clud­ing, but not lim­ited to, ac­cep­tance by the Cana­dian Se­cu­ri­ties Ex­change and en­ter­ing into a for­mal de­fin­i­tive agree­ment. Fur­ther de­tails re­gard­ing the pro­posed trans­ac­tion will be pro­vided in a news re­lease, when the par­ties en­ter into a de­fin­i­tive agree­ment.

(1) Chainal­y­sis, Novem­ber, 2017.

We seek Safe Har­bor.

Gregory J Downey, Wil­liam Vic­tor Marsh, Richard Mathews, Devinder Singh Rand­hawa

(BWC) Shares: 44,462,273

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