Bitcoin Paper Wallets are recognized as the most secure way to store bitcoins.
However a single mistake during the paper wallet printing process can reveal your private key to a hacker.
The issues range from
Malware and keyloggers running on the machine used to generate the wallet.
Malware on the actual printer forwarding printed documents to a 3rd party
Hacks against the site/software used to generate the wallet.
The solutions to these problems are cumbersome,error prone and expensive.
Any device with an externally accessible port is vulnerable to malware infection. We live in a world where even your smartphone can be hacked by a charger.
Bitfrore solves these issues.
With the push of a single button a paper wallet can be generated with no risk of malware/keyloggers or hacks.
The software and hardware designs are open source and open to peer review.
The hardware can be audited at any time to verify it matches the published software.
The design is microcontroller based,runs without any operating system and has no externally accessible ports. The attack surface is as minimal as possible.
The perfect balance of convenience and security.
What We Have And What We Need
We have a fully functional prototype.
The corresponding source code is published here https://github.com/bitfrore/bitfrore
This series of blog posts gives more details on the technology behind Bitfrore.
Unfortunately bringing a consumer device to market is expensive. There are several legal directives and requirements that have to be fulfilled before an electronic device can be made available to the public e.g.
Environmental Impact and Waste Management
Properly fulfilling these requirements unfortunately leads to a high initial startup cost but ultimately protects you the customer from harm or loss. We need sufficient funds to cover these startup costs and to fund an initial production run.
This is our first project of this nature. There is always the risk off hidden costs that will push the project into being unprofitable. Through months of planning I have hopefully covered all these bases. The campaign is configured with fixed funding to match the break even point for 1 years running costs of the business + a margin for error to absorb the unknown costs. If we can't achieve this break even point then all funds will be returned.