Does BC Vault support multi-signature access to wallets?

Modified on Wed, 07 Nov 2018 at 04:53 PM

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?'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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