Avoiding One Person in Control of Company [btc] Wallet's Password?

[Geremia]

Suppose I am working with a company that wants to accept Bitcoin for international trades.

The company, for security reasons, would not want a single one of its employees to have access to the company BTC wallet's password. Any transaction would have to meet the approval of more than one employee.

Is this possible already? If not, how could it be implemented with public-key cryptography?

thanks

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[CruzCoins]

Suppose I am working with a company that wants to accept Bitcoin for international trades.

The company, for security reasons, would not want a single one of its employees to have access to the company BTC wallet's password. Any transaction would have to meet the approval of more than one employee.

Is this possible already? If not, how could it be implemented with public-key cryptography?

thanks

Maybe you would be looking for a threshold scheme. http://en.wikipedia.org/wiki/Secret_sharing

[grue]

you can do multisignature addresses, but it requires manually creating and signing the transaction.

[Geremia]

I didn't realize people have been implementing multisig. For example, GreenAddress.it has 2of3 accounts, and so does Coinbase, which they call Vault.

[btchris]

I didn't realize people have been implementing multisig. For example, GreenAddress.it has 2of3 accounts, and so does Coinbase, which they call Vault.

GreenAddress and Coinbase Vault are both intended for individuals, or for individual employees (the multisig for these wallets is intended to keep individuals safer from malware, it's not intended to prevent embezzlement).

There is multisig software designed for companies or groups of individuals though. You may want to look at Armory (lockboxes), mSIGNA, or perhaps the recently released Electrum 2.

[Geremia]

I didn't realize people have been implementing multisig. For example, GreenAddress.it has 2of3 accounts, and so does Coinbase, which they call Vault.

GreenAddress and Coinbase Vault are both intended for individuals, or for individual employees (the multisig for these wallets is intended to keep individuals safer from malware, it's not intended to prevent embezzlement).

There is multisig software designed for companies or groups of individuals though. You may want to look at Armory (lockboxes), mSIGNA, or perhaps the recently released Electrum 2.

thanks

[Newar]

Another: https://copay.io/