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Recommendations on asset protection by Crypto Valley Association

Cybersecurity group of Crypto Valley Association announced publishing new guidance for crypto asset protection.

Recommendations on crypto protection.

New guidance developed for implementing leading security systems for private keys and access to crypto assets, has been included in the report “Guidance for private keys”, and were officially presented during the free online event by CVA “Ceremony of demystifying keys”, organized by Cybersecurity Working. The group took place on Tuesday, 7th July, 17:00 CET.

This event researched best practices developed on the basis of rapid experience of CWG members in the field of developing, analyzing and applying private keys for regulated organizations.

Indeed, CWG mission lies in defining and assisting to the adoption of security standards and best practices for blockchain projects, as well as in providing a forum for Swiss companies dealing with products and services of blockchain security, and also in promoting them on global markets.”

These leading principles were collected and edited by Jan Phillip Aumasson, the head of security service at Taurus Group, and Mary Sommerhalder, the expert for crypto data storage at PwC (Switzerland), with the active participance of CWG members.

The moderator of the online event was Emy Lorenz, the member of board of directors of the Crypto Valley Association.

Apart from Sommerhalder, the senior attorney of risk insurance for PwC developing technologies, Jan Phillip Aumasson participated in the event, as CWG co-chairman and head of cybersecurity service at Taurus Group, Charles Giyem, the leading Ledger technologist, and Vasiliy Lavrov, the head of blockchain programs managements at SEBA Bank.

As Emy Lorinch said, “the CVA working group for cybersecurity aims to set high-quality standards and best practices for product development, security audit and key management on blockchain and crypto industry”.

The publication reflected these efforts and far-reaching CVA ambitions for improving security levels in crypto space and expanding accessibility of digital currencies.

CWG president and Chief of the supporting beta blocks group at PwC I’m Switzerland Marcus Perdrisat commented, “Considering the fact that more and more crypto assets are being restricted, the need for best security standards regarding key crypto processes has never been that high”.

Solution for investors.

Ultimately, security of financial assets starts from the key basis – this is the process of designing cryptographic secretes. From this moment the standards of protection should be the highest.

To that end, we are glad to officially present our new leading principles.

There has been a lot of ways for creating private keys but no clear set of standards or recommendations. The diversified approach usually applied by researchers, reveals dozens of potential attacks which undermine the security of assets.

With a deep understanding and ceremonial insight we have collected all that we consider to be best the practices in creating reliable and secure key basis, and provided the basis for improving existing processes.

We are looking forward to more detailed discussion of the new presentation during the online event, and we are inviting people to participate”.