EMURGO - a global blockchain solutions company - is excited to welcome Crayonic, one of our 2020 batch members of the dLab/EMURGO startup accelerator. Crayonic provides next generation authentication security that helps organizations and users avoid  cumbersome passwords and instead secures their personal data in cyberspace.

Providing Decentralized Identity Solutions

Using a secure, offline multi-factor authentication hardware token, Crayonic significantly increases the security of personal accounts and eliminates all types of data phishing – currently the most common form of cyber and hacking attacks. To achieve this, Crayonic provides a decentralized identity solution that is both secure for organizations and easy-to-use for the end users. A spoken or written PIN code can replace all passwords to different systems and give users full control over their encryption keys regardless of the use case – authentication, blockchain transaction signing, or even signing of PDF documents.

Crayonic’s signature product Crayonic KeyVault relies on a certified secure chip, behavioral biometrics, machine learning algorithms, and advanced PKI (public key infrastructure) cryptography.

Why Should Cardano ADA & Cryptocurrency Users Care About Crayonic?

Physically storing assets in a secure way has been done for thousands of years and has been a lucrative business for enterprises specializing in custodial services. In modern times, we may use vaults, safes, and hiding places to store our valuable physical assets.

For cryptocurrency users, hardware wallets are the physical equivalent to these methods of security for storing one’s cryptocurrency assets. Thus, cryptocurrency users and exchanges that are seeking a very secure, cold storage hardware wallet are a key target market for Crayonic.

Crayonic will allow users to manage all of their digital identities via one secure device. Users will be able to unlock their cryptocurrency wallets using Crayonic simply and securely without needing a password. This eliminates the hassle of centralized storage of users’ data, multiple passwords, and random phishing attacks. User authentication is made easy by voice or handwriting to any FIDO-compliant system. Crayonic’s solution also extends beyond cryptocurrency usage and can replace user passwords to bank accounts, exchanges, and PCs with a single, secure PIN code.  

dLab/EMURGO Offers Technical & Business Mentoring to Add Value

dLab/EMURGO’s successful experiences in the startup & blockchain industries has been valuable to mentoring Crayonic in developing their product solutions. According to Founder & CEO Peter Kolarov,

“During the acceleration program, we had the opportunity to prepare our product and company for presentation to investors and customers. We were supported by our mentors and gained access to valuable support resources.”

Meet The Crayonic Team

Crayonic was founded by a group of senior experts from a wide range of disciplines, including e-signing, security, cryptography, biometrics and identity / access management solutions. All team members share the common goal of achieving greater levels of personal data security for organizations and individuals around the world.

Crayonic’s Founders:

Crayonic’s Core Team

Conclusion

Digital identity is at the core of every economic and social interaction. Today, these interactions are being transformed increasingly at a fast rate into the digital domain. Given the onset of new decentralized protocols, the need for cryptographically secure, yet simple digital identities is more apparent than ever before.

Crayonic recognizes this need and develops technologies for humans and machines to keep their digital identities secure and easy to use, be it in ordinary or  in high value transactions. To learn more about Crayonic, you can follow them on LinkedIn or Twitter.

As a global blockchain solutions provider & a founding entity of Cardano, EMURGO is here to guide you through your blockchain needs, whether you are seeking technical solutions development, investment, educational courses, and/or assistance with developing a business idea.