BC Vault can help you out with the multi-signature problem without multi-signature already :)
WHY? Ask yourself WHY MULTISIG is needed?
To prevent a single person to have full control of funds? Right?
Well....it's really simple with BC Vault!
You can lock the transaction approval to confirmation of up to 4 people. Simply:
WHY? Ask yourself WHY MULTISIG is needed?
To prevent a single person to have full control of funds? Right?
Well....it's really simple with BC Vault!
You can lock the transaction approval to confirmation of up to 4 people. Simply:
- 1 person gets the global password
- 1 person gets the global pin
- 1 person gets the wallet password
- 1 person gets the wallet pin
ONLY when all 4 are present and all 4 use their knowledge the transaction can be made. Now if you want to have redundancy, simply take 4 BC Vaults for example (use super easy Backup/Restore MicroSD) on different locations and give each of the password/pin to 4 different people. Then you need 4 people out of 16 (for example) to do the transaction.Voila...PROBLEM SOLVED!
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