MultiSigX Security for everyone

[MultiSigX]

MultiSig has been introduced by bitcoin and is still at infancy. MultiSigX.com uses the true potential of the protocol and allows users to use the feature through simplicity. Users can sign in and create a 2/3 or 3/3 MultiSigX wallet and assign it to any email address. Add funds and withdraw funds with MultiSigX signatories.

How it works:
These emails can be of:
1. Self
2. Partner
3. Friend
4. Family
5. Employer
6. Employee
7. Business
8. Escrow
9. Print / Cold storage.
10. MultiSigX – self escrow

Once he defines the users and fills in their emails. The system will send a MultiSigX email containing new, 3Sed98r.... (MultiSigX address), their private key, their redeemScript to their respective emails only.

The system will not store any of the records on the server except the public keys and redeemScript.
When the user deposits funds to the 3Sed98r.... (MultiSigX address) the balance will be seen on the system. The users can now withdraw funds to their respective addresses (old or new) through the user friendly interface, without much knowledge of keys, crypto, createrawtransaction, decoderawtransaction, sendrawtransaction using the bitcoind (daemon) ...

Simplicity is the key for the user interface. With a click and scan the private key, they will be able to complete the deal and send the funds to a specified address...

When a person initiates the transaction, the other users are intimated with the transaction and asked to validate it and submit / reject the transaction.

This will be the most secure way.

Example:
A (Business), B (Escrow), C(Programmer).
A creates a MulitSigX record, System send email to B and C.
B and C can check the MultiSig.
C completes the work.
If A, is satisfied with the work, B or C can initiate the payment to C.
If A, is not satisfied with the work, He can withdraw the payment to self. B decides to settle for A or C.
B can also initiate the payment to C and C can confirm.
C can also initiate the payment and B or A can confirm.

Usage:
Acceptance of bitcoin currencies worldwide by non-technocrats increases daily. The main problem which they fear is the security of coins in computers, mobiles, web wallets and trade exchange sites. Given a secure wallet option fully controlled by the user himself will prompt him to use MultiSigX

We will be launching it by 15th July