Approaching the Cryptocurrencies’ Security Concerns

Investing and asset management is a crucial part of financial security and stability. As one of the most popular investment assets, cryptocurrencies offer an alternative to the traditional economic system. However, with governmental and financial entities demanding control and users expecting anonymity, the situation requires new solutions to address both sectors’ needs.

Similarly, the current asset management scenario is riddled with several inefficiencies. Users are facing unsafe conditions without a trusted entity to manage their assets digitally. This is one of the reasons that delay crypto adoption and needs to be addressed immediately. Some of the factors that make asset management hazardous for crypto adopters include:

  • Crypto traders generally leave their digital assets on crypto trading platforms with inefficient security mechanisms

Considering the current context, Privateum emerged as the first legally protected private asset management system to support banks, companies, borrowers, lenders, stores, small, medium, and large companies. Accordingly, the platform relies on the Binance Smart Chain and private Ethereum consortium network, to offer privacy and legal solutions to the community platform. Moreover, all the transactions are stored and managed within this secure consortium network.

The Secure World of Privateum

Security is paramount when dealing with digital investments, especially cryptocurrencies. Also, several central institutions do not legally support crypto investments causing reluctance in investors. However, Privateum has developed the first legally protected private asset management system that ensures users get access to private, fast, and secure financial services.

Privateum caters to the modern needs of the business globalization era by offering a wide range of professional services that are not limited to the integration of Fintech companies within legal procedures. The platform uses a business model that helps extend financial services and assets management globally.

Privateum offers its users the ability to privately and securely exchange their funds, services, and goods within the ecosystem using these features.

Industry-Leading Security

Privateum uses the Privateum Ghost Network™ to create a secure blockchain-powered payments network. The Privateum Ghost Network is designed within the ecosystem by cooperating with several legal entities to ensure compliance with minute details. The platform is equipped to handle and block attacks such as identity fraud and restore access to funds reliably and securely.

Secure by Design

Privateum believes that security isn’t finalized as it must adapt to the new use cases and functionalities. Privateum has instilled security within its design to ensure safety at every step. The company uses a Secure SDLC program that covers personnel’s language-specific training, SAST and DAST scans, Threat modeling, etc. Also, the company undergoes periodic security bounty programs and reviews to ensure they operate at optimized capabilities. Privateum is designed in alignment with SOC2 Trust Principles, and NIST 800–53 security controls.

Encrypt Everything, Know Nothing

Privateum ensures end-to-end encryption from a browser or mobile application to the data storage system. Every thread of information is protected using a TLS1.2 or higher encryption which ensures complete anonymity. Stored data is secured using AES-256 bit encryption that has an inherent scheduled key rotation. Moreover, Privateum uses an open-source cryptographic library to stay transparent.

Zero Trust

Zero Trust is the guiding principle of Privateum’s corporate security. Anyone can gain access to the infrastructure only based on their identity and context, which is continuously monitored.

The Sun Support

Privateum ensures all its systems and data are geo-reductant and load balanced. This mechanism helps Privateum stay online even during a sub-system failure and allows the platform to restore data from an encrypted backup stored physically in multiple locations.

Private Asset Management

Every transaction within the Privateum ecosystem is secured and protected using the Privateum Ghost Network solution. This solution also ensures decentralization and security using its node architecture.

Privateum asset management is a class apart from the rest of the solutions. Using Privateum for transferring funds, paying for goods and services means getting complete security and privacy. Platforms such as Privateum are helping crypto space to become more accessible by ensuring the safety of users in every aspect along the way. For more information about Privateum and its features, visit https://www.privateum.org/.

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Privateum Global

Privateum is a technological and legal solution based community platform that enables private assets management.