Matric’s breakthrough in CRYPTO SECURITY
After coming up with an answer to lax crypto security, a Hilton College matric learner has been dubbed “the next Elon Musk”.
Matthew Wilson spent last year’s hard lockdown searching for a viable solution to prevent crypto-holders from losing millions due to lax security. A year later, his extensive lockdown research has culminated in the launch of his own company, CRPTsecure, last month.
Matthew first got involved in the crypto industry in 2017 following a number of discussions between his father’s friends. Wilson became convinced “there had to be a simple, user-friendly solution to the problems plaguing the crypto community”, such as crypto-investors being unable to access funds due to losing the recovery phrase to access their crypto-wallets.
And that’s essentially what CRPTsecure is: A disaster backup plan to protect crypto wealth, using specially developed software that uses pin-tab technology to securely retrieve recovery phrases.
“Pin tab is a technology that allows the recovery phrase to be printed on physical sheets while the words remain concealed by a slip; only once peeled back are the words revealed.
“Should a client require access to their recovery phrase, they can request retrieval. Upon completion of the CRPTsecure security verification, their phrase will be returned to them. At no point in this process is a client’s recovery phrase ever visible,” Matthew explained.
Matthew spent the lockdown period immersing himself into the conceptualisation of his solution, with the help of his family who are also into cryptocurrency.
The feedback from the launch of CRPTsecure last month has highlighted the stark lack of education around crypto-security.
“Many people are happy to store their funds on exchanges rather than on crypto-wallets; these users are blissfully unaware as to the peril that this leaves their funds in. Exchange hacks, a crackdown in government regulation or any other number of occurrences could result in their funds being compromised,” he said.
It’s no wonder the 17-yearold was dubbed “the next Elon Musk” on East Coast Radio recently, which Wilson is hugely complimented by. “I have huge amounts of respect for Elon Musk and all he has achieved. At this point, however, I am focused on the success of CRPTsecure and can only hope to build myself to a point of being on the same playing field as someone as esteemed as Elon Musk.”
His vision for CRPTsecure is that it will become “a name synonymous with the security of crypto-users worldwide”.
Matthew said it’s been tough balancing the excitement of launching his business with staying focused on matric. “I have had to learn to manage my time and energy which is something I am still working on.”