CRIP.TO participated in the Dubai International Blockchain Summit, held in the Atlantis, The Palm Dubai on the 8th of January. The Summit had over 3000+ investors and 50+ sponsors, and was a great opportunity for the CRIP.TO team to showcase their solution and meet interested investors, as well as form collaborations with other upcoming startups.
The summit was a resounding success for us, with visitors to our booth extremely interested in the CRIP.TO encryption model of end-to-end hardware based encryption. During the exhibition we demonstrate how our working prototype works with the companion app CRIP.TO Shield, and judging by visitors' enthusiasm in our solution, it is clear that we are on target with our easy to use, nearly unbreakable end-to-end encryption.
Our CEO, Stefano Alberico, had a chance to speak on stage during two of the roundtable events, and also to give a speech to the whole conference audience. This was a great opportunity to introduce the CRIP.TO concept of hardware encryption. After the speech, many listeners approached Stefano and our booth to further discuss our innovative solution, and to get more information on our upcoming ICO. During the event hundreds of people registered to our website, signing up for trial licenses of our app, or for our ICO newsletter.
Many individuals, organizations and companies who approached us during the event saw great potential for our startup and our upcoming ICO, due to the current lack of comparable solutions on the market. They viewed our approach to the problem, by designing a custom hardware device, as a huge step forward in the industry, especially in light of the recent news on the Meltdown and Spectre vulnerabilities, that have greatly damaged the reputation of established hardware producers. By having our own custom chip, we are able to control with absolute certainty that nothing is introduced into the chip to make it vulnerable to future compromise.
One of the most appreciated features was the anonymity guaranteed by our solution in comparison to existing applications. Because we never ask users for their phone number, don't store any data or metadata of our users, and also don't distribute our app on the traditional app stores (Google Play Store), no-one, not even our company CRIP.TO OÜ, has any way of knowing who is using the app.
This anonymity, coupled with our integration of a cold storage cryptocurrency wallet, was very appreciated by visitors. News of thefts, hacks, and bugs in popular exchanges have highlighted the weakness of centralised wallets, making hardware wallets more popular. At the same time, decentralised exchanges, which allow users to trade directly from their cold wallets, have increased enormously in popularity, and are evolving to be more user friendly. The market for hardware wallets is set to grow, with existing manufacturers facing month-long backlogs in production.