IBM Unveils Novel Cold Storage Technology for Crypto Assets

• IBM Unveils a Cryptographic Signing Technology for Cold Storage Digital Assets
• IBM Hyper Protect Offline Signing Orchestrator (OSO)
• IBM's Contribution to Digital Assets and Cryptocurrencies
• The Limitations of Cold Storage
• IBM's OSO Technology in Use

IBM Unveils a Cryptographic Signing Technology for Cold Storage Digital Assets

IBM, an influential giant in the technology industry, has launched a cryptographic signing technology to manage digital assets in cold storage. This innovation aims to diminish risks associated with manual procedures while keeping the assets distant from an internet connection.

IBM Hyper Protect Offline Signing Orchestrator (OSO)

The IBM Hyper Protect Offline Signing Orchestrator (OSO) seeks to augment the security of high-value transactions. IBM declared on Tuesday that this technology offers extra security layers. These include disconnected network operations, time-based security, and electronic transaction approval by various stakeholders.

IBM's Contribution to Digital Assets and Cryptocurrencies

In recent times, IBM has increasingly been leveraging its expertise in key management, particularly its confidential computing technology suite, in the domain of digital assets and cryptocurrencies.

The Limitations of Cold Storage

According to IBM, the drawbacks of cold storage are often due to human interactions. These interactions may consist of inside jobs, compelled attacks - instances where violence is used to have a transaction signed - or other operational errors involving data center administrators and simple "pen and paper" strategies.

IBM's OSO Technology in Use

Metaco, a Ripple-owned custody firm and long-time partner of IBM in the cryptocurrency space, is currently employing the new OSO technology. The CEO of Metaco, Adrien Treccani, expressed satisfaction with the partnership.

He highlighted how IBM's confidential computing division has proven to be a dependable ally over the years. He went on to add that they are delighted to enhance Metaco's collection of institutional cold storage solutions with the unique air-gapped cold storage facilitated by OSO. This technology is particularly significant as cold storage requirements are increasingly being stipulated by regulators in markets such as Singapore, Hong Kong, and Japan.

Edited by Jonathan Stoker