SINGAPORE, February 27, 2018 (Newswire.com) - Blockchain security specialist 5M Holdings and Taisys Technologies are jointly developing a mobile hardware wallet which contains a Secure Element to protect private keys of digital assets using the latter's patented SIMoME® Java Card SIM overlay.
This form factor is an industry first and will make every mobile wallet which uses this technology a mobile hardware wallet. This improves the security on installed devices such as handphones and tablets to promote the ease of using cryptocurrencies.
The demand for cryptocurrency hardware wallets is at an all-time high with many manufacturers unable to meet surging demand due to the increase in awareness of the importance of keeping cryptocurrency keys safe after the recent US$500 million heist from a Japanese Exchange.
5M’s Token Security Scheme aims to make blockchain safer for everyday use and the development of this form factor with the Taisys SIMoME® Java Card SIM overlay is being unveiled this week at the Mobile World Congress (MWC) in Barcelona.
Abraham Kee, co-founder, 5M Holdings, said: “This joint development will help us develop the secure wallet infrastructure on our roadmap quickly.
“The SiMoMe® overlay form factor can integrate with our DHSM framework and facilitate everyone with a mobile device such as a smartphone to seamlessly and securely utilise the blockchain and keep their assets safe.”
Jason Ho, founder and chairman, Taisys, added: “The joint development with 5M will allow us to move quickly into the blockchain ecosystem and give our current 10 million users worldwide access to secure mobile hardware wallets on their portable devices using our patented SiMoME® SIM overlay with a Secure Element.
“It also allows us to acquire and serve many more new users in one of the fastest-growing segments of this industry and to cement our vision as a leading innovator.”
Taisys can be found in Hall 7 Stand 7M29 of MWC.
About 5M Holdings
The company specialises in Token Security Scheme (TSS) incorporating Distributed Hardware Security Modules (DHSM) for Cryptocurrency Key Management Systems (CKMS) in SecureCryptoVault within Enhanced Payment Card Industry (EPCI) certified facilities.
TSS aims to address the existing security gaps in the cryptocurrency ecosystem and to prevent attacks on any exchange or facility storing such digital assets.
Its co-founders and team members are specialists in Payment Card Industry Systems, Security Audits, IT Security & Contract Management, Intellectual Property Rights Management, Strategic Consultancy and Management, IT Development and Large System Project Implementation and Blockchain Technology Investments in Startups and Growth Companies.
About Taisys Technologies
Taisys Technologies, a member of GSMA and ETSI, is a world leader in providing mobile interconnectivity and vertical integration solutions to various industries. Taisys’ solutions enable telecom, financial institutions and government organisations to extend innovative mobile services in a secure and convenient manner.
Established in 2005 and headquartered in Taipei, Taisys has built solutions based on its patented core technology SIMoME® (Thin SIM), which decouples value-added services from the main SIM, and empowers industry players the ability to deploy innovative services on the mobile equipment.
Over 1,300 banking and 20 MNO partners have deployed mobile-based value-added services enabled by Taisys’ technology and platform to 10 million end-users worldwide.
For more information, contact:
T: (886-2) 2656-2185 #222
Source: 5M Holdings Ptd Ltd