Crypto

Ledger makes Bitcoin attractive for financial giants

According to a report in Forbes, Ledger, a French-based manufacturer of cryptographic parcels, now develops a crypto-banknote for large financial institutions.

Pascal Gauthier, president of the company, said, "Blockchain itself is secure, it is a flaw. "

As is known, every Bitcoin uses a private key that provides access to the user's crypto fortune. "Signing" is trying to use this key to access your wallet and send Bitcoin to another wallet.

The problem is that these keys are a series of 256 characters and the risk of stealing is quite high.

In the early days of Bitcoin, people often kept their fortunes on their computers,

Gauthier said, "If you lose the private key, there is no bank or a way to wreck them." .

Gauthier worked as a COO at Criteo, an advertising technology company listed on the NASDAQ with $ 1.7 billion worth of valuation, and left his job in 2014 to find himself kryptonian to the private key struggle.

O The popular strategy for many people was to entrust Bitcoin's wealth to third parties, but these third parties quickly became targets. At the time, Mt.

Guathier says, "Wow, there's a big problem here."

Ledger's solution is to separate the private key from the internet by holding it in a USB stick-sized device

Pascal Gauthier

]

Ledger's vision of resolving Bitcoin's biggest flaw is that it is the largest in Europe, and the largest in Europe, "said Gauthier." Ledger sold more than a million units to 165 countries last year, with a turnover of $ 53 million and operational profits of $ 30 million. supported by large investors. Today, Gauthier says that sales to ordinary customers are just the beginning.

Gauthier says he is meeting with managers of free investment funds who use Ledger devices and inspire the company's two latest projects.

"We need a Ledger Nano S solution for organizations , products produced for large and small financial institutions. "

The first product is already alive. Ledger Vault has a function here as a multi-user software product. Thanks to this product, anyone in a free investment fund or family office can access a single crypto purse with different restrictions.

The second product is still in development phase. In May, Ledger announced that he was forming a business alliance to establish a separate company called Komainu, which will build a custody service with Japanese financial giant Nomura.

This ambitious game, Ledger's president Gauthier, is now considering an out-of-the-box funding strategy for this ambitious game.

The company is going to take a new funding tour, Samsung said Siemens and Google's investment arm GV have shown great interest and that Ledger's appraisal could be worth $ 1 billion

Such a valuation is that Ledger is Europe's the first crypto unicorn company will do.