Versabank is developing a safety deposit box to safeguard your cryptocurrencies. Safety deposit boxes are used in physical applications such as storage of jewelery, artifacts, precious and expensive items. The cryptocurrency safety deposit box will be in a digital format and is a growing need in the recent problems of hacks and stealing of cryptocurrencies.
Versabank is a well established company which has tailormade banking and safety requirements since the 1980s. Due to its approach in trends it has become a successful publicly limited company on the toronto stock exchange. It is currently a digital bank solely taking the priorities of digital banking over traditional banking methods.
CEO David Taylor commented on the Cryptocurrency Safety Deposit Box-
“Bitcoin and other crypto currencies are quickly gaining popularity and holders have already experienced their valuable holdings vanish from the less secure ‘digital storage’ options.”
The main chief of this new concept will be Gurpreet Sahota, who headed Blackberrys cryptosecurity. This is a sign of no nonsense and a desire to succeed in the market front as a leader in cryptocurrency safety.
Sahotas experience will take this digital innovation forward. He is a person who believes in banks being the safest place for storing important assets. He also has stated the high demand of cryptocurrencies, and the need for safeguarding it to secure a successful digital world.
In the recent past, Korean banks have promised a secure vault for cryptocurrencies but have not followed through with the promises.
Digital assets are just as valuable as any jewelry, property deed or stock certificate, but protecting them isn’t easy and hence Versabank wll have to keep up to date with cybersecurity measures in terms of cryptocurrency.
Versavault is the name given to this cryptocurrency digital storage, and will be released soon to the public.