A Small|A Little} Canadian Bank Releases Digital Safe Storage For Bitcoins.
VersaBank, a Virtual Canadian chartered bank, is creating an innovative “Blockchain-based digital safety deposit box” for bitcoin and other cryptocurrencies .
the Bank revealed the hiring of a Chief Architect of Cyber Security to supervise a group of experts in developing a new Blockchain-based digital security deposit box, named as the VersaVault. The service will be available by June and will serve as a means to protect cryptocurrencies.
It is standard that physical funds such as precious metals be stored in Switzerland, Hong Kong, and even Singapore, but when it comes to virtual properties, could the country of choice soon be Canada? President and CEO David Taylor sure hopes so, and has positioned the bank to become a global leader in digital asset security from the position of safety.
. “The bank wouldn’t have any kind of back door to open up the vault, we’re just providing the facility that folks could put their digital keys in.”
It is yet unidentified how safer a "blockchain-based" crypt will be compared to ordinary hard drives