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Author Topic: [ANN][IDEA][STARTUP] Waphy, a new concept of hard wallet (We need your feedback!  (Read 783 times)
mrvision
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June 21, 2017, 09:42:13 PM
 #1

Hi Folks, we’re posting this in order to get your feedback about the product we’re developing. We have more or less everything solved at a tech level. We want to know what you think and if any of you would invest in this product!!!  Cheesy
 
 
Introduction
 
Waphy Vault is a device with wifi connectivity which, when connected to your home network, allows you to make secure transactions with Bitcoin or other cryptos. The hard wallet can be managed from any device from the same local network but will always require confirmation from a paired app to make it sign a transaction. This makes it even more secure, since private keys never leave the device, but to make a transaction you would need to control two devices, your secured mobile and the computer he is using.
 
You can imagine it as a server, which is accessible only at home, guarding your private keys, and in which we have inserted an ui similar to blockchain.info.
 
The product is designed for true nocoiners. Beginners who do not understand bitcoin and will not swallow the "blockchain introduction". People who, in order to start using cryptos just need an extremely simple and intuitive device that protects them from risks that they do not even have to know.
 
So, once your Waphy is connected, users will see a familiar environment which looks just like online banking, and a similar way of operating.
 
Waphy Vault setup

 
  • Waphy Vault comes in a format similar to a pendrive but uses the USB connector only to power it (not for data transmission).
  • When unboxing it, the user is asked to download a mobile APP in order to start the device.
  • The app detects the device and asks the user to select the home network and enter the password.

  • Waphy vault creates all the secrets needed to manage communications and shares them with the app
  • The app asks the user to enter a pin code to access his Waphy Vault app.
  • The device now asks the user to put an NFC card (included) to backup the seed that will generate its different addresses, and the configuration, encrypted with the password
  • he typed before. The NFC card has a data retention up to 100 years.
  • The device asks the user to write down the 12 to 24 words of his private key in a fancy piece of paper (included)
  • Waphy Vault now connects to the router.
  • Waphy Vault now starts its webserver and makes the "https: //waphy.local" web accessible from the lan.
  • Waphy can be left on or off. If it remains on, it will reject any connection from outside the local network.

 
Important notes:
  • Although the router usually has its ports closed and filters connections from the outside, Waphy Vault also prevents connections from outside the local network.
  • Waphy Vault uses the home Wi-Fi network so that all Wi-Fi devices in the home can be securely paired to pay with the wallet. In the future we believe that this will enable other domestic appliances to be authorized to pay with cryptos by delegating authentication / confirmation to the strategy defined in the device. Ex, the washing machine buying energy.

 
User Interface
  • To enter the user interface you have to write an OTP that is shown on the mobile app.
  • The user interface will be extremely simple, with only 3 possible operations in version 1.0,  Send transactions, Receive transactions and View transaction history.
  • It will show both, the amount of coins you have and the price of those in local currency in real time.
  • Later, we will add services via partners (for example, link a debit card that is loaded with bitcoins). (This is the main business model, not selling the device itself)
  • When sending a transaction from a device, for example your computer, you will have to open the mobile app in which the transaction will be detailed (in order to double check what you are sending).  A 6-character alphanumeric string is also shown. This string must be entered on the device that generated the transaction for the Waphy Vault to sign (your computer). Then the device signs the transaction and broadcasts it.
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June 22, 2017, 05:33:17 PM
 #2

Hey,

Looks an interesting and much needed project. Introducing the masses to blockchain is the next natural step and it benefits us all, besides, I'd also like to protect my coins. When will we be getting more information relating Waphy Vault? Will there be an ICO or Bounty Program?

Also, for the possible partnerships with debit cards loaded with bitcoins, look into Monaco Card, they just finished their ICO and are doing exactly that, a partnership might benefit both of you.

Cool Job developing this and best of luck dev!

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June 22, 2017, 05:59:49 PM
 #3

how to invest in this product? Grin
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June 23, 2017, 06:24:00 PM
 #4

Dev, will we be getting any other updates?

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mrvision
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June 26, 2017, 11:54:44 AM
 #5

Hey,

Looks an interesting and much needed project. Introducing the masses to blockchain is the next natural step and it benefits us all, besides, I'd also like to protect my coins. When will we be getting more information relating Waphy Vault? Will there be an ICO or Bounty Program?

Also, for the possible partnerships with debit cards loaded with bitcoins, look into Monaco Card, they just finished their ICO and are doing exactly that, a partnership might benefit both of you.

Cool Job developing this and best of luck dev!

Indeed, we will be reaching every company who are doing this and will try to be partners. Our business model relies on these kind of alliances, which will also strengthen our ecosystem.
how to invest in this product? Grin

We will definitely want the community to invest. We're figuring out which is the best way to do this. But I believe the best way will be selling shares and giving dividends to shareholders. BTW this is an issue that we will have to think later (because right now we're focused on working hard on researching the best hardware to lower costs while giving military grade protection to our future users). But it is a very important topic that will be discussed in the future.

Dev, will we be getting any other updates?
Yes, this post is to give you some news which comes in the next paragraph, but you will indeed be getting updates.


Update:
We're preparing some documentation on what our product is and what technologies we're going to use. What we want to achieve and why we want you to be involved. This week we will release this documentation, and we will register a domain so you can register for our newsletter. Because we don't want to waste resources, don't expect something very  complex, it will be just useful.



Again, thank you for your interest! Let's make history! Cheesy
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June 26, 2017, 06:12:22 PM
 #6

Interesting idea.
Have you detailed on the hardware requirements ? What processors are you going to use ? Idea is good but making it into reality is a not an easy task.Being someone who has worked on  Iot project with hardware and microprocessors,I tell you it is pretty difficult.Also you're going to need a lot of funding if you don't have home developers.

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June 26, 2017, 07:37:12 PM
Last edit: June 26, 2017, 08:07:04 PM by mrvision
 #7

Interesting idea.
Have you detailed on the hardware requirements ? What processors are you going to use ? Idea is good but making it into reality is a not an easy task.Being someone who has worked on  Iot project with hardware and microprocessors,I tell you it is pretty difficult.

Hi Joel,

We're using the ESP8266 wifi SoC, which is very extended in the IoT market. This SoC uses a 32 bit Tensilica Xtensa LX106. We will be also integrating a pn532 NFC module (probably).  The NFC module is required to store the seed that generates the private keys (among other secrets) inside an NFC card, since they have 100 years of data retention for a very low cost.

ESP8266 SoC:



Also you're going to need a lot of funding if you don't have home developers.

We have the skills but yes, we know we will need a lot of funding (we will work that out) Smiley .
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July 04, 2017, 03:25:38 PM
 #8

Interesting idea.
Have you detailed on the hardware requirements ? What processors are you going to use ? Idea is good but making it into reality is a not an easy task.Being someone who has worked on  Iot project with hardware and microprocessors,I tell you it is pretty difficult.Also you're going to need a lot of funding if you don't have home developers.

I'm the core iot developer and originator of the idea behind this. I know HW is hard, but thanks to many others its pretty easy to develop upon various stacks. Funding will be needed but we are going step by step.

Stay tuned!

MrMx
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August 31, 2017, 04:28:13 PM
 #9

Hola, si quieres algún aporte de como desarrollar ese hardware wallet te puedo comentar que el software que se utilize para gestionarlo o bien esté instalado en él y sea actualizable o bien sea descargado de la página del vendedor, pero en cualquier caso no hagáis como en Trezor que se necesita ir a su página para descargarse el software cada vez que lo quieras utilizar.

El día que esa página no exista se va a tomar por culo el Trezor.


Saludos ¡
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September 01, 2017, 02:03:25 AM
 #10

yeah, I would needed a hard wallet to hold all the ERC20, and future ICO token which can work with NEO, Tezos...
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