BitVault®, World’s first Blockchain Phone releases its source code and design files on Github
PRESS RELEASE – LIMERICK, IRELAND – 21 October 2018 – After changing course earlier this year and deciding to focus all its efforts on enterprise solutions thus moving out of the consumer market, the developers announced today the release of all the BitVault® software on the Github open source platform.
A spokesperson from BitVault® confirmed that not only will the software be released as open source but all the hardware designs and specifications will be released as well thus making it possible for anyone to download either the applications or even build their own BitVault® if they so wish.
The company stated that one of the reasons for publishing the source code was not only to show the real blockchain applications but also to alleviate fears of customers that their might be secret “backdoors” inside the code that could allow the company or even governments to gain access to encrypted customer data or funds. The release of the source code and designs further debunks controversial claims by some uninformed parties inside the crypto community that the BitVault® was never developed but merely a promotional ploy by the company this despite the fact that the BitVault® was shown and demonstrated to the blockchain community at London fintech Week in 2017, where the BitVault® was one of the main sponsors and subsequent testing by various potential enterprise customers and other interested parties.
The company has reaffirmed its focus on the enterprise market and sees huge potential in the enterprise market where blockchain driven devices could make an impact in contrast with the consumer market where there is huge competition from global phone manufacturers as well as regulatory pressure on devices that bring encrypted communication to the public. The company stated it’s view that consumer blockchain phones will be poorly adopted, will possibly be bought only as a gimmick and most of the current developments are not really blockchain devices but only use limited blockchain functionality such as wallets etc. The company believes in the long-term commercial viability of the enterprise BitVault® and the release of its code and design specs as open source will really throw down the gauntlet towards other blockchain phone or device developers.
As stated before the company is currently focussing on three sectors and are in advanced discussion with prospective partners and customers.
- Defence Technology
- Financial Technology
- Manufacturers of mobile communication devices
The company has been very active in pursuing customers in this market and the defence sector is a key market for the a product like the BitVault®.
The BitVault® was introduced to the Fintech community in London at London Fintech week in July 2017 where BitVault® was the Gold Sponsor.
The company noted that “Fintech” was a major market for the BitVault® and that there are projects underway with not only major banking institutions but also payment systems and other e-commerce solutions.
Manufacturers of mobile, communication and IOT devices
According to the company, this is another key sector as some of the unique security and blockchain features of the BitVault® are very attractive to this market.
The company further stated that it was currently in preliminary discussions with a large manufacturer but could not provide any further details as this was under a non-disclosure agreement.
More About the BitVault®
The BitVault® is the World’s first Blockchain smartphone and crypto communicator providing a secure and safe smartphone experience with its own unique application store with blockchain enabled applications.
The BitVault® comes with the following unique features:
Dynamic Key Creation: – With the use of biometric identification combined with NFC technology, the user creates private and public keys every time the device is used. These keys are never stored anywhere and can only be created by the specific user. These keys are used for encryption of transactions, communication and other applications on the device.
Secure Calling: – The device uses advanced cryptography to enable public key to public key calling. Cryptocurrency transactions are used to create multi-layer encryptions.
Secure Messaging: – The same cryptographic methods are used for secure messaging. BitVault® to BitVault® messaging is multi-layered encrypted. Secure Document Transfer: – When a user sends a document created on a laptop or a PC via the BitVault® as an attachment, these documents are transferred over a private blockchain separate from the BitVault® communication environment. Both the sender and receiver will need to download an application on their respective computers to send or receive documents. Keys to open these documents will be securely transmitted from BitVault® to BitVault®. In this way, outside documents can never enter the BitVault® communication environment keeping it safe from malware.
Secure Browsing: – By using blockchain technology the BitVault® dynamically verifies websites through a set of confirmation steps. Browsing with the BitVault® is severely restricted and controlled with stringent rules to ensure the integrity of the environment.
Cryptocurrency wallets: – The BitVault® uses cryptocurrency in its applications and also comes with native cryptocurrency wallets. The BitVault® has the following wallets installed: – Bitcoin, Ethereum, Bitcoin Cash, EOT.
BitVault® Application Store: – BitVault® comes with its own dedicated application store and is open enterprise developers. Enterprises could develop proprietary applications dedicated to their customers.
More details on other features and specifications of the BitVault® are available on the website: https://swissbankinyourpocket.com/bitvault/ and on the Keynote: – https://swissbankinyourpocket.com/bitvault-key-note-the-worlds-first-blockchain-phone/
BitVault® is a registered trademark and all rights are hereby reserved.
Interested parties can download the full BitVault® source code by clicking here.
INFORMATION SOURCE: BitVault® Enterprise Solutions