Tailor-Made Proprietary Cross-Chain Wallet Technology with integrated custody
Last updated
Last updated
As already mentioned, the SMAT ecosystem offers accessibility and transparency to participants of the community and utilizes innovations from blockchain technology to create trusted transactions. There are three major tools in the development stage to usher in crypto-asset accessibility to the wealth managers in the ecosystem, namely:
Tailor-Made Proprietary Cross-Chain Wallet Technology with integrated custody.
Decentralized Finance Solution for Wealth Management.
The Token Management Infrastructure.
SMAT’s wallet architecture is designed to take control of the users’ private keys. Therefore, a custodial ownership control is chosen over a non-custodial one to ease onboarding and improve the user experience for institutional, semi-institutional and other crypto-naive users (Bruschi et al., 2022). Wealth managers can oversee sub wallets for each of their clients, simplifying the onboarding process on the platform. Wealth managers in the community can also effectively increase their clientele, with the security and flexibility multi-party computation (MPC) offers.
The underlying technology behind SMAT’s tailor-made custodial digital wallet is multi-party computation (MPC). MPC is a digital wallet security method that utilizes an iterative mechanism on separate machines to rebuild a digital signature, therefore, ensuring assets in the SMAT ecosystem are highly-secured, as security is paramount in the asset management industry (Bitgo, 2022).
Employing MPC in the wallet computation protocol improves the security of tokenized assets, by eliminating a single source of failure (Bitgo, 2022). The MPC process can be simplified as follows:
Division of a single key into multiple parts called shards.
Storing individual parts on different machines.
Reassembling key shards iteratively on multiple machines.
By not assembling individual shards of a key together, MPC is ideal for the digital wallets of wealth managers in the SMAT ecosystem, as this cryptographic method prioritizes the security of assets. Therefore, creating a secure ecosystem where wealth managers can manage sub-wallets, while also ensuring the privacy and security of each client's investment assets. SMAT’s distinctive custodian wallet can potentially combine MPC with an added blockchain security layer, hardware security module (HSM) to ensure the ecosystem’s assets are safeguarded.
