Hilton College matriculant comes up with multi-billion dollar crypto solution
The 17-year-old has launched what crypto traders will know as CPRT Secure.
So many people are moving into cryptocurrency and building lives from trading on varying platforms. This young man from the Durban school, Hilton College, has come up with something that will be incredibly helpful to crypto traders who have lost crypto because of weak security.
Matthew Wilson is a 17-year-old learner who became interested in cryptocurrency four years ago. He joins Keri Miller on Keri's Couch talking about the special inventions he made to protect traders' crypto.
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But he delved more into the world of crypto last year when we had so much time on our hands during the strict COVID-19 lockdown. He researched why so many crypto holders lost billions due to lax security.
Every heard of CRPT Secure? This is the name of his creation that will aid traders and investors from losing their million and billions.
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So where does Matt Wilson's solution stand alongside the best crypto protection software?
On the website he shares why one would need this specific software.
A hardware wallet or hot wallet gives one an extra layer of protection against cyber-attacks, phishing sites and malware. However, these wallets also come with risk of failure, destruction or loss. To retrieve your keys in this event you will need your recovery phrase. This can be 12, 18 or 24 words depending on your wallet. CRPT securely stores these words for your retrieval in time of need. This is where CRPT can provide an invaluable service.
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Take a listen as he shares how the idea came:
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Wilson’s solution is simple and practical, and leans on technology already in use by banks.
Whenever banks issue a new credit card, the new PIN is inscribed using PIN-tab technology. The computer-generated PIN is revealed when you peel back a covering sheet.
CRPT Secure provides a disaster backup recovery plan for crypto investors by storing their 12, 18 or 24-word recovery phrases in a safe and confidential format.
The recovery phrases are stored on three or four pages (depending on the number of words), which are then stored at different physical and secret locations.
These pages are retrieved from the different locations and returned to the crypto owner, ensuring that their seed phrases can never be compromised, hacked or guessed at.
Take a listen as he explains this further:
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That sound complicated? Simply click here for more about CPRT Secure.
He is 'The next Elon Musk', as we have dubbed him on our show!
We are excited for his future.
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