Hard Cryptowallet Hierarchy for Secure Multi-Account Authorization
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Solution Overview
Problem
Existing digital wallets fail to provide comprehensive management and security features for diverse digital currency assets, including cryptocurrencies, credit cards, and bank accounts, lacking functionalities such as multi-wallet approval, forensic logging, and secure transaction authorization.
Innovation Solution
A universal digital wallet system utilizing HARD COLD security standards, incorporating a master wallet with subordinate wallets, featuring split key methods, forensic logging, and multi-wallet approval mechanisms, along with methods for managing wallet copies and transactions, leveraging the Trusted Computing Group's storage specifications.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a single wallet manages multiple digital currency accounts, then wallet functionality and versatility are improved, but security risk and complexity increase
Solution Approach 1:
The patent divides the wallet system into a master wallet and multiple subordinate wallets, each with specific functions. The master wallet holds the master private key and manages authorization, while subordinate wallets handle specific currency accounts. This segmentation isolates security risks to individual subordinate wallets while maintaining centralized control through the master wallet.
Solution Approach 2:
The master wallet acts as an intermediary between the user and multiple subordinate wallets. It manages authorization for transactions across different subordinate wallets without requiring the user to manually manage each subordinate wallet's private keys. The master wallet verifies authorization codes and coordinates transactions, reducing the security burden on individual subordinate wallets.
2Reliability
If HARD COLD security standards are implemented, then security assurance is improved, but device complexity and operational difficulty increase
Solution Approach 1:
The system separates security-critical functions into the master wallet (stored on HARD COLD hardware) while allowing subordinate wallets to use simpler storage methods. The master wallet's private key never leaves the secure hardware, while subordinate wallets can be implemented on more accessible devices. This segmentation provides high security for key management without requiring all wallet components to be equally complex.
Solution Approach 2:
The patent creates authorized copies of the master wallet's authorization capabilities through subordinate wallets. Instead of requiring direct access to the master wallet for every transaction, the system generates subordinate wallets with limited authorization scopes. These copies enable convenient access while the master wallet retains ultimate control and can revoke authorization as needed.
3Adaptability or versatility
If multiple subordinate wallets are created under master wallet control, then wallet management capability is improved, but system complexity and authorization management difficulty increase
Solution Approach 1:
The master wallet implements feedback mechanisms to monitor and control subordinate wallet activities. When a subordinate wallet needs to perform a transaction, it requests authorization from the master wallet, which verifies the request against predefined authorization rules. The master wallet provides feedback by granting or denying authorization and can update authorization scopes dynamically based on transaction history and security requirements.
Solution Approach 2:
The authorization system is designed to be dynamic rather than static. The master wallet can adjust authorization scopes for subordinate wallets based on transaction patterns, security events, and user preferences. Authorization codes can be updated, revoked, or modified without recreating subordinate wallets, allowing the system to adapt to changing security requirements while maintaining a manageable number of wallet entities.
Data Source
AI summary
Wallets for cryptocurrencies and other digital currencies combine multiple digital currency accounts into a wallet and manage multiple other wallets. The accounts include accounts for different cryptocurrencies, different distributed finance accounts, different credit or debit cards, and different bank accounts. Multiple other wallets may be managed from a master wallet with more limited instances of the accounts, rules for authorization, wallet activation, location tracking, copying, and destruction rules under control of specific wallets managed ultimately by the master wallet. These capabilities fit in secure storage devices for cold hard storage of the master. Different wallet copies are distributed for other cold hard storage, hot hard storage, cold soft storage or hot soft storage instances of these children wallets. With multiple wallets sharing subsets of functionality with respect to different wallet accounts, the usability, security, privacy, and versatility of wallets for digital currency is greatly improved over existing wallet offerings.