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Author Topic: Avoiding One Person in Control of Company [btc] Wallet's Password?  (Read 1731 times)
Geremia
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March 08, 2014, 09:16:36 PM
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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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March 08, 2014, 09:38:41 PM
 #2

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
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March 08, 2014, 09:39:03 PM
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you can do multisignature addresses, but it requires manually creating and signing the transaction.

It is pitch black. You are likely to be eaten by a grue.

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March 07, 2015, 08:27:58 PM
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I didn't realize people have been implementing multisig. For example, GreenAddress.it has 2of3 accounts, and so does Coinbase, which they call Vault.

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March 07, 2015, 10:41:28 PM
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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.
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March 08, 2015, 02:22:38 AM
 #6

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

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March 08, 2015, 03:38:05 AM
 #7

Another: https://copay.io/

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