Social Key Recovery

  • in progress

With our (Social-) Key Recovery App for iOS and Android smartphones we aim for a convenient and secure recovery solution for secrets. While not bound to seeds or private keys, we believe that cryptocurrency owners and blockchain users are a natural fit for such a solution.

(Social-) Key Recovery Solution for secrets

We use the Shamir Secret Sharing Scheme to create multiple shards from a secret. The secret cannot be derived from any one shard and a predefined number out of all shards are required to rebuild the secret. The shards can be distributed by the user to multiple devices, friends or services such as Dropbox, Google Drive, etc.

We plan on working together with several institutions to provide a custody solution for shards.While shared in a network of friends, for recovery all that is needed is to pair again with the predefined number of friends that is required to rebuild the secret and recovery can be initiated securely over a dedicated peer to peer connection.

Recovery of secrets stored on lost or stolen devices

Users of cryptocurrency wallets, especially those using smartphone wallets may need to backup their seeds or private keys. Most new users of cryptocurrencies and blockchain in general are not accustomed to watch out for their secrets. This is a high risk, since without their keys they lose access to their account and wealth on a blockchain. This means if the smartphone is lost, stolen or the wallet app uninstalled, access is most certainly lost forever. While there exist a wide range of backup solutions such as paper- and hardware wallets, most solutions are not that convenient for the end-user. With our (social-) key recovery solution we aim to offer a secure and convenient backup solution for secrets and private keys.

Generalized backup solution for secrets

We want to offer an app that is open source, thoroughly audited and easily integratable for other services such as crypto wallets. So users can manage and recover all their secrets in one place.

We plan on working together with institutions to offer custody services for shards as well as to integrate with services such as dropbox and google drive.

Our recovery solution will be independent from trust to a single party or entity and flexible enough to support decentralized communication protocols such as Ethereum Whisper.

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Shamir Secret Sharing

lgorithm for splitting a secret into shards

7E209565-26B7-4B10-A125-E86C32C1F280Created with sketchtool.

Public/Private Key Encryption

Secure communication between two parties

9F61C27E-2BC0-43B6-AC29-619B67378B4CCreated with sketchtool.

Key Recovery

Recover the secret from a subset of shared shards

D140D194-3883-4F70-B15D-4923EF4BEECCCreated with sketchtool.

Heartbeat

Detect if your secret is in danger of not being recoverable

DBDFA2EF-C582-4736-A64B-65489FF4B709Created with sketchtool.

Backup to Cloud Storage

Shards can be saved to and restored from cloud storage providers

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Secured by Touch/FaceId

Secrets are encrypted on your device

Use Case

Recover secrets previously shared with friends on a new phone

Let’s assume Alice has a secret which secures something of value (cryptocurrencies would be a good use case here).

She worries about losing this secret and as a consequence, losing access to her assets. Now she might be inclined to back up her secret with people she trusts. Hence, she uses an app for Social Key Recovery which splits her secret into five parts and distributes those to people she is close to. Furthermore, she specifies that three of the five parts are necessary to recompute her secret. One day Alice loses her phone and with it her secret. At this point, she can contact three of the five people who earlier received a part of her secret. With the help of these people, she can restore her secret. Thus Alice regains access to her assets on the new phone.

Ready to start?

Check out our Low Fidelity-Prototype.
Click trough different use cases and have a look at our the first features.

Start Prototype

Any questions?Ask our expert

Stefan Hamm

Managing Director