Decetralized Finance
Green Finance
RegTech
Insurtech
Encoding seed phrase to the picture (steganography)
Challenge: How might we ease up private key storing for cryptowallet users?
End goal: users can recover their private keys without the need to memorize or store them.
Sprint Questions:
- Can we make a seamless process on the mobile?
- How secure would be such a solution?
- How open are users for new options?
Problem Research
Customer Journey
Needs Hypotheses
- User want easier backup of their seed phrases securely
Existent Alternatives
- Write down the key/phrase
- Custodian approach
- Hard wallets integration
- Contacts Recovery (Gnosis SAFE)
- Knowledge Based Authentication
- Biometry
Knowledge Based Authentication (Steganography) is comparably better than other alternatives
Product Definition
A service/library that encodes the key into a picture/set of pictures at the wallet setup phase.
Steganography
Visual cryptography is a cryptographic technique which allows visual information (pictures, text, etc.) to be encrypted in such a way that the decrypted information appears as a visual image.
The idea: Use image-based steganography and optional password to backup your seed phrase The rationale: The offline backup is proven to be fragile to a human factor errors. The hardware may crash. The ideal backup:
- is stored on many devices and cloud
- may be visible to public
There is only one asset that we all have that satisfies those conditions. Photo.
You may take a family picture that everybody has and encode your seed phrase with or without password. Send photo and feel safe.
Prototype
iOS App demo
GitHub - 4IRE-Labs/CryptoGraphica: CryptoGraphica is a cool way to store your seed phrase
GitHub
Test with users
Questions:
- How many crypto wallets you use?
- How do you store key phrases?
- How often do you recover?
- How convenient is it?
- Have you ever lost the they?
*Test goes here*
A library for wallets that allows saving the seed phrase into local stored photos
Quick demo