Google Cloud Previews Institutional Crypto Custody Tool Built on Split-Key Control
Photo: TheCoinrise
The tech giant's new service divides private key control among multiple parties to reduce single points of failure. Google Cloud is developing a custody system for digital assets aimed at institutional clients, according to reports from BitKE and UNLOCK Blockchain. The system's central feature is a method for splitting control of private keys, rather than storing them in one location under one party's authority. Private keys are the cryptographic credentials that grant access to crypto holdings. Whoever controls a key can move the associated assets.
Also reported by BitKE.
Source: TheCoinrise
