Since 2017, KeychainX has provided Wallet Recovery Services, recovering different kinds of lost cryptocurrencies. We are delighted to have KeychainX as our official sponsor, contributing together with us to a great future. In the following, you will find a short interview with KeychainX. Check out their great answers and learn about their vision, the company, and more.
Where do you see blockchain’s biggest potential for a positive impact?
The unbanked. I.e. Africa, South America and Asia. Just like mobile phones gave people communication access where there was a lack of landlines. Blockchain and DEFI in those areas will give people without access to the banking system or without identification papers (i.e. refugees) the ability to make transactions and execute payments.
Can you tell us about your service in two sentences?
We recover lost crypto passwords for Bitcoin, Dogecoin, Ethereum and other coins. We are one of the oldest in the business since 2017 and have recovered close to 500 wallets worldwide.
What is the vision of KeychainX?
Create a secure environment for storing crypto which in my opinion lacks today´s support. Every time Ledger creates a software upgrade or blockchain.com creates a wallet upgrade, we receive tons of requests to recover lost crypto due to software-hardware malfunction. We also have plans to create a DIY recovery platform that will speed up wallet recovery and at the same time offer GPU owners to try their luck with the recovery. See it as SETI at home, but for crypto.
Do you see the success of blockchain projects affected by the perceived likeability of users to lose access to their wallet? Does it slow down the mass adoption of blockchain?
No, people always lose their keys, wallets phones. Now when more people choose to enter crypto its natural they lose their password or keys. The mass adaption is more about trust rather than technical difficulties. Its as easy to buy crypto today as to order an Uber. So mass adaption is about trust towards the system. Just like the internet took time for people to adopt, crypto will take time. We are still early.
Which criteria does a wallet recovery service like KeychainX have to fulfill to be trustworthy?
Doxxed team, i.e. people who do the recovery need to be visible, like joining conferences (like we did with Blockchance), doing interviews in magazines and having a public profile. We also have a 100% score on Trustpilot where our customers send us reviews. We are also registered in Switzerland with company board and investors as opposed to some competitors who run their service anonymously or out of the garage.
What are your main objectives for the next few years?
We constantly strive to improve our algorithms and see there will be no problem unlocking wallets in a few years that seem quantum grade protected today. We also have a keyless patent pending wallet that we plan to develop that will have social recovery and geo based key generation. Think you create your wallet on your farm and only you can access it while there. A hacker would need to travel to that farm and have a clue of your other salted data in order to steal your coins. We also strive to develop hardware to faster break encryptions and see an upside in doing so when our TVL in wallets passed 1 Billion USD last year.
In our last conference, we were proud to announce KeychainX as our official sponsor. Moreover, we also were delighted to announce renowned pioneers and absolute experts in their fields as speakers. Lots of knowledge was shared, learnings were made, and possible futures were visualized. Since then, our team has been diligently uploading the keynotes to our YouTube channel. Check them out and take a deep dive into the blockchain universe. Furthermore, tickets for BLOCKCHANCE Europe 2023 are available on our website now. Get your ticket here and learn more about what our great future can look like and how you can contribute to it.