The Israeli startup revealed a new cold wallet that has the capability of online transfers. How is that going to benefit the Crypto and Blockchain industry?
GK8 uses a new technology to highlight the convenience of sending and receiving Crypto assets without the widely spread dangers such as hackers and suspicious activity.
The company raised about 4 million dollars in funding by a venture arm of one of the biggest Israeli banks Discount Bank and Marius Nacht a co-founder of the cybersecurity giant Check Point.
The technology is already on the go. It is reported to be used by the giant trading platform eToro.
According to Fortune, GK8 was founded in 2018 by two members of an Israeli defence unit that guards the country’s digital assets.
Now the company’s board is consisted of Prof. Eran Tromer, a Zcash founding scientist, and Major General Ilan Levanon, former Head of the Cybersecurity Intelligence Unit in the Israel Security Agency (ISA).
Watch Prof. Eran Tromer explaining the nuts and bolts of GK8’s technology.
According to him, GK8 secured five patents for the innovation and if someone would ask how they invented this new wallet, his immediate answer would be: “We tried to think: how can we make a fully operational cold wallet with no internet connection at all. And we ended up doing exactly that,” Lamesh said.
This new ground-breaking technology can be seen as a better and more reliable addition to the future of Blockchain and Cryptocurrency. It sends a positive message towards the unexperienced and the investors. A message that trading digital assets can be safe and the gain can be bigger than any loss – financial or personal.