Gem has just announced that they’re deploying custom Hardware Security Modules (HSMs) from Thales e-Security as part of their wallet.
The Venice-based bitcoin security platform harnessing lightweight code and multi-signature technology will utilize HSMs in a similar way as the military. The devices are used to protect military encryption keys along with mission secrets. If the military trusts the technology, it might just be good enough to store bitcoins.
“Our engineers worked closely with the hardware team at Thales for months to develop a custom solution specifically for the Bitcoin industry,” said Gem CEO and founder Micah Winkelspecht in a release. “The payments industry has been using this hardware technology for years. But we looked at every HSM on the market to find one that could support Bitcoin wallets, and none of them could do it, so we built it ourselves. Thales really came through for us, and the level of enthusiasm they have for our growing industry is incredible.”
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