By design, with our wallet, the secret keys are really yours (created from your own entropy) and are always kept offline.
They aren't, though. A phone in airplane mode is not an isolated device, and as I said above, your phone carrier, Google, and who knows who else can still send and receive data to phones which are in airplane mode. Similarly, even if you delete the wallet before turning off airplane mode, there is no guarantee that the files don't still exist and are accessible on your phone's storage, and could be transmitted to a third party at a later date. Cold storage has to be permanently air gapped.
We are still at an alpha stage (that's why we propose to test our wallet with our money). We will obviously release the source code of the app once we are past this stage and publicly release our product.
Fair point.
Instead, our only incentive is to play by the rules and hopefully turn your heir into our customer.
Another fair point. My only concern is your statement that you do not know the value of the wallet - we do not know that to be true until your source code is released.
If we go out of business, we'll use a customary 12-month sunset period
There is no way you can guarantee that. If you go out of business because you don't have any money left, how will you pay for your servers to stay up for 12 months to complete pending transmissions?
Once our app is installed on an Android device of your choice (like a repurposed old Android phone for example), the device must be:
. kept offline for good,
. used exclusively for our app.
To ensure you keep your Android device offline for good, if you don't trust Android's airplane mode, you have two possibilities imo.
1) You can ask your local mobile shop to physically remove remote connectivity from your device (i.e. remove sim card slots, wifi modem, bluetooth...) before using our app. I did that myself on different Android devices (it is straightforward, usually costs $5-20 depending on where you are located, and takes less than 15 minutes).
2) You can simply remove the SIM card, delete all WIFI configurations, and never connect again to any networks once our app is installed.
In both cases, there will be no way for your Android device to ever transmit any wallet-related information beyond the information transmitted via QR codes.
Going out of businessTo keep a minimal Amazon instance running (that's all we need to just send out pending information to heirs) costs USD8 a month. Therefore, even if we were to go out of business, we should be able to afford this insignificant amount for a year (enough to complete any pending commitments). And we'll have a strong incentive to do so. Indeed, paying for that last tiny cost will allow us to at least keep our head up after the failure and possibly prepare our next move with happy former customers lining-up... ;-)
