INCIBE Awards HASHWallet as Most Innovative Project in Spanish Ciberemprende Contest

UTC by Shane Molidor · 6 min read
INCIBE Awards HASHWallet as Most Innovative Project in Spanish Ciberemprende Contest
Photo: HASHWallet / Twitter

HASHWallet focuses on a secure device that allows users to authenticate or sign any transaction without any risk of fraud or impersonation, at any time, from anywhere and in a simple way.

Recently, the National Cybersecurity Institute (INCIBE) has awarded the prizes to the three winning start-ups of the ideas and entrepreneurship contest Ciberemprende. Within the framework of the ‘Tech Spirit’ event in Barcelona, ​​the Demo Day was celebrated, the final day of the incubation program that took place in the Naturgy Innova Hub.

The eSignus initiative in Tenerife has received the first prize endowed with a whooping € 8,000. Its project HASHWallet focuses on a secure device that allows the user to authenticate or sign any transaction without any risk of fraud or impersonation, at any time, from anywhere and in a simple way.

On the other hand, the awareness projects and Araua RegTech, of Madrid (Las Rozas) and Bilbao, respectively, have been awarded € 6,000 and € 4,000. The first initiative allows creating more effective training and awareness solutions on cybersecurity than the current ones, acting as the link between cybersecurity and people through an online platform. The second uses a digital identification and authentication system ( Onboarding ) based on biometrics to ensure that the person on the other side is who they say they are.

The finalist projects of the contest have presented and defended their business initiatives before investors, companies and public institutions. A jury has assessed the proposals based on criteria such as relevance, innovation, scalability, market, maturity and the promoter team, among others.

What Is the Major Objective of the Incubation Program Ciberemprende?

This initiative aims to encourage the creation and development of new projects related to cybersecurity and boost technological innovation in this area. It is co-organized by INCIBE together with ICE, an entity attached to the Ministry of Economy and Finance of the Junta de Castilla y León and ILDEFE (Leonés Institute for Economic Development, Training and Employment), under the Municipality of León.

Meanwhile here is why eSignus device (HASHWallet) stood out among its competitors.

HASHWallet Brings Breakthrough to Crypto Assets Security in Smart Card Shape

Many consumers today see crypto-assets as a fast-track to easy wealth. But yet, many are still scared to own and store them because they are ‘virtual,’ and you can’t actually hold them. Coupled with the news on how big ‘security-focused’ crypto exchanges are getting hacked, many crypto users/ investors have thought it wise to get a crypto hard wallet and get full control of their assets.

So, whether you are experienced or not, it is pertinent to know that: in a decentralized system, the user is the only one keeper of the security of his/her assets; and transactions here are non-reversible. In other words, there is nobody to be held responsible to cover any fraud loss if it happens.

Meanwhile, since the inception of the earliest cryptocurrencies, it’s no doubt that many crypto users have lost their assets via loss of private keys, key hacking, keystroke logging, phishing attacks and so on. Thankfully, a safe haven to these existing challenges have arrived, it’s HASHWallet.

HASHWallet has proven to be the breakthrough to crypto-assets security in a smart card shape.

HASHWallet is an innovative hardware wallet primarily designed to safeguard your crypto-assets in the shape of a “handy smartcard” loaded with premium features. Interestingly, it’s so environmentally secured that as a user, you can comfortably use it to authenticate or sign a transaction anywhere without worrying about risk or impersonation or losing your key. In other words, you can perform transactions anytime, anywhere without any iota of worry.

Not long ago, HASHWallet entered into Arrow Certification Program. After a thorough review of their idea, ArrowGlobal found HASHWallet to be one of the outstanding innovative technology in the crypto space. HASHWallet got endorsed and received the “Arrow Certified Technology” Badge, meaning that engineers from Arrow have assessed the project and evaluated it as feasible for manufacturing.

Unique features of HASHWallet

The HASHWallet has been redesigned with some unique features that will enable crypto users to spend their funds securely, while also protecting their private key. These features include:

High-Level Security and Ease of Use

HASHWallet is the first non-programmable hardware wallet, hence it offers a more secure environment for users to verify transactions. Here, a large e-ink screen is used to check and approve transactions, which eliminates the potential for fraud and avoids the so-called “Man in the middle” attack. What’s more, the private key on the smart card can never be extracted by anyone, even by the user itself. As such, the keys can neither be lost nor stolen.

HASHWallet also features an intuitive user interface that makes it easy for everyone to operate. Whether you are new to the cryptocurrency space, or you have little or no knowledge of gadgets, you can operate this wallet with ease. Moreover, it is the world’s first hardware wallet to feature a direct mobile application. The application can be used to manage the wallet and user’s funds and operations from his smartphone.

Seamless Connectivity

HASHWallet supports Bluetooth and NFC connections, thereby enabling a wireless connection with other devices. Bluetooth connectivity, for instance, creates an encrypted two-way communication between the card and your smartphone or computer. The latter enables received transactions to be signed and returned, depending on whether they are signed or rejected on the e Ink WYSIWYS screen.

Under other conditions, NFC connectivity provides a means of recording the Smart seed card and receiving data when HASHWallet is to be recovered. The connectivity will also be used to facilitate NFC payments in the future. And you know what else? The HASHWallet comes with a wireless charger to enable you to connect to a computer and pair the card to the desktop application.

Biometric Security Support

Biometric authentication is no doubt one of the highest levels of security in this digital age that protects human identity. Interestingly, HASHWallet has also implemented this technology to provide the cardholders with topnotch security standards. In other words, its advanced fingerprint reader allows the verification of your identity to sign any form of transaction in a highly secured environment.

Easy Recovery Process

Basically, one of the biggest concerns of crypto users is counting on an effective and confident key recovery process. This has been an existing issue because most of the current solutions have been tagged to be cumbersome.

However, HASHWallet has made this recovery process an easy one. As a crypto user, you no longer have to lose sleep when you lose your key to your crypto coins. HASHWallet comes with two Smart seed cards to provide an alternative way to access your funds if the wallet is lost. While activating HASHWallet for the first time, the seed cards are paired to the device via NFC. As a result, your Recovery Seed is stored on these cards. The card also generates a ‘Recovery Key’ that is stored on the eSignus Vault.

Also if it happens that you no longer have access to the HASHWallet, you can fall back on these two secure elements. All that is required is to purchase another HASHWallet and use one of the Seed cards to enter the Recovery Seed and Recovery Key. Your funds will then be accessible from the new smart card.

Altcoin News, Bitcoin News, Blockchain News, Cryptocurrency News, Guest Posts
Andy Watson
Author: Shane Molidor

Global Head of Business Development at BitMax & GDM. Formerly Global Head of FBG One, Business Development and Operations at Gemini Trust Company, LLC.

Related Articles