Contactless Card Cryptogram Recovery for Seedless Wallet Keys
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Solution Overview
Problem
Digital wallets face security challenges such as theft, loss of access keys, and lack of portability, with existing recovery methods being prone to theft and loss of recovery seeds.
Innovation Solution
A system using contactless cards to generate cryptograms that are verified by a server, allowing secure recovery of private keys through cryptographic verification, ensuring the keys are only restored when the user has access to the contactless card.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If traditional recovery methods using recovery seeds are used, then key recovery is enabled, but security is compromised due to theft and loss of seeds
Solution Approach 1:
The patent introduces a contactless card as an intermediary device between the user and the private key recovery process. The card contains a secure element that generates cryptograms, which are then verified by a server to authorize key recovery. This intermediary mechanism eliminates the need for users to remember or store recovery seeds while providing secure, verifiable access to private keys through the contactless card's cryptographic capabilities.
2Ease of operation
If custodial wallets are used, then access is provided, but portability is restricted due to ties to specific institutions
Solution Approach 1:
The patent extracts the private key management functionality from institutional custodial systems and enables users to control their own keys through contactless cards. The server verifies cryptograms generated by the contactless card and restores private keys to the user's device, eliminating dependency on specific institutions while maintaining secure access. This extraction of key control from custodial systems enables portability and user sovereignty.
3Ease of operation
If proxy wallets are used, then access is provided, but security is compromised due to breaches and theft
Solution Approach 1:
The patent implements self-service key recovery where the user's contactless card autonomously generates cryptograms that are verified by the server. The private key is restored directly to the user's device without requiring proxy wallet intermediaries. This self-service mechanism eliminates the security risks associated with proxy wallets by removing the intermediary layer that could be compromised, while maintaining secure and verifiable access to private keys.
Data Source
AI summary
Systems, methods, apparatuses, and computer-readable media for key recovery based on contactless card cryptograms. A server may receive, from an application, a request to recover a private key for a digital wallet, the request includes a first cryptogram generated by a contactless card. The server may decrypt the first cryptogram based on a key for the contactless card. The server may determine, based on the decryption, a unique identifier of the contactless card and a diversification factor associated with the digital wallet. The server may generate the private key based on the unique identifier and the diversification factor. The server may transmit the private key to the application via a network.