By: Eva Baxter
Renowned tech giant IBM has recently unveiled a new groundbreaking air-gapped cold storage system for digital assets. This groundbreaking system dubbed IBM Hyper Protect Offline Signing Orchestrator (OSO) operates much like a time delay safe for digital assets and incorporates a policy engine to manage communications. Developed in collaboration with digital asset manager Metaco - a Ripple subsidiary and distinguished tier-1 banks, this encryption service aims to tackle common loopholes in conventional cold-storage solutions.
Citing issues like privileged administrator access, operation costs, errors, and scalability problems that stem from human interaction, IBM's new system aims to negate these vulnerabilities by automating the process of initiating and executing transactions thus reducing the risk of insider attacks like physical access, administrative manipulation and coercion.
Digital assets in the OSO system are secured in 'air-gapped' storage containers ensuring resilience against cyber attacks. This solution also eliminates the need for administrators to physically transfer storage devices for signing transactions therefore removing a common weak spot in existing systems. As such, IBM's innovative technology promises to revolutionize the way digital assets are securely stored and managed, fulfilling a crucial requirement in the burgeoning cryptocurrency market.
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