LONDON, August 14, 2018 /PRNewswire/ --
Pryvate is a highly-secure, triple-layer-encrypted communications application available for personal computer browsers, iPhone, Android, and even Blackberry devices. Pryvate was designed to provide secure messaging, email, file-transfer, voice and video calling and conferencing. Pryvate's initial App Store release was in 2015.
Criptyque Ltd, the makers of Pryvate, are registered & headquartered in Jersey, Chanel Islands hence, are exempt from regulations imposed by many countries. Such regulations would have inhibited, compromised, or invalidated Pryvate's fundamental vision of providing privacy that is truly security-hardened against typical vulnerabilities including corporate and government espionage, malicious hacking or blackmail.
Criptyque also have entities & points of presence in Cayman Islands, Singapore, UK and EU.
In 2016, Pryvate made the decision to enter the blockchain space with the goal of creating the Pryvate utility token, known as PryvateCoin (PVC), but also with a mandate to develop an increased range of tools to serve the consumer & emerging crypto markets, namely:
- Private Browsing
- Extremely secure 'Hot-wallets' & transaction medium
- Ultra-Secure 'Cold-Storage'
- A crypto-asset trading and OTC conversion (Over The Counter, Atomic Swaps & Arbitrage)
- A secondary 'no-API' exchange with bot resistant AI for manual day-trading
In doing so, Pryvate will be competing within three separate billion-dollar markets, namely:
- Crypto-asset trading exchanges e.g. Bittrex, Binance, and KuCoin
- OTC fiat/crypto conversion exchanges e.g. Luno, CoinBase, CoinMamma, Gemini, LocalBitCoins
- Hardware wallet producers e.g. Trezor, Ledger, KeepKey, and now BitFi
The difference between Pryvate and the rest, is that the Pryvate app and underlying tools are free-to-use with transaction fees from zero to a maximum of 2%; thus enabling consumer's free entry into the crypto-asset markets for the first time.
Besides PVC token "airdrops," Pryvate is offering 40 PVC (currently USD $24) to users who download the Pryvate and an additional 8 PVC (currently USD $4.80) per app referral.
All "Pryvate Pro" features will be available while the user maintains a balance of 20 PVC or more within their Pryvate wallets. Should their balance fall below 20 PVC, usage will be restricted to Pryvate Lite features only.
Users can store PVC on the Secure "Hot or Cold" wallets within the app, trade, sell or buy more. Alternatively, since PVC is an ERC-20 token, users may store PVC on personal Ethereum wallet paper, hardware, or web based wallets.
The Pryvate team is comprised of high-end IT and telecommunications professionals including veteran crypto/cipher specialists with a passion for the new economy and the efficiencies that blockchain technology brings.
Pryvate identifies some of the most notable barriers to mainstream crypto asset adoption as:
- human readable addresses, hashed for one time use
- non-user-friendly wallets and exchanges for trading and for OTC purchase/sale
- unjustifiably high trading fees on well-known trading-platforms
- unjustifiably high buy/sell fees on OTC exchanges allowing fiat to crypto exchange
- high exposure to information security risk due to inherent weaknesses of consumer-level mobile and desktop security
With the phased release of the new crypto-asset tools, Pryvate provides an intuitive-by-design, highly-secure, low-cost solution to protect users' assets and intellectual property by encasing the range of easy-to-use tools within the digitally protected vault that is the Pryvate app.
Pryvate provides a unique and original product for novice through veteran user skillsets by implementing a more cost-effective and technically-efficient solution. It allows even the most spyware-infected devices to access native features as well as DApps, within the secure, vaulted interface that is the distributed exchange for trading, and the hot & cold secure wallet.
Pryvate's hot & cold storage features enable users without hardware wallets the means to secure their crypto assets on existing devices without the usual risks associated to standard software or online wallets.
The Pryvate application for mobile devices and desktop web-browsers removes the need for software, online or paper wallets that present hacking risks to the public. Similarly, Pryvate replaces the need for expensive, supposedly "hack-proof" hardware wallets, which were previously the only solution to properly secure crypto-currencies and tokens from malicious attacks and compromised devices.
Pryvate is so confident in the security of our time-tested product, that Pryvate has reserved 6% of their 50million PVC coin hard-cap for 300,000 PVC bounties to any to anyone who provides evidence that successfully hacked or compromised the security of the app.
Such a challenge with a bounty is usually offered by hardware-wallet manufacturers.
CEO, Jonathan Parker-Bray, explains:
"Our business has been in the cryptography space since its inception in 2013. We launched our peer-to-peer, triple-layered encrypted app in 2015, to allow anyone to have truly private communication free from the prying eyes and ears of corporations and foreign government-sponsored spy programs that can potentially steal and even sell commercially sensitive information.
Pryvate performed a comprehensive review the 'crypto-sphere' identifying the mainstream adoption barriers to the eco-system as:
- intimidating technical complexity for novice users (especially with 2nd Gen' blockchain wallets)
- Inherent device security vulnerabilities, particularly with iPhone and Android devices
- moderate to extreme crypto-currency purchasing difficulties and unjustifiably inflated buy/sell fees on OTC platforms such as Coinbase and Gemini
From a risk perspective, such challenges and barriers compound the overall crypto-asset price volatility. The risks also create a potential for mass-fraud if not addressed as many crypto enthusiasts rely on software wallets on their computers, mobile devices, or in the cloud.
Pryvate's mission is to contribute to the mainstream global adoption of crypto-currencies and tokens by removing the most compelling fears, risks, costs, and other barriers associated with the eco-system at this stage of its evolution.
A simple spyware infection has the potential to undermine the security of user devices and applications. Pryvate took the initiative to fix such vulnerabilities by further developing an evolved release of the Pryvate Now app to benefit the crypto-community and eco-system.
Pryvate safeguards against these risks by providing complete protection against hackers, malware, and spyware from any native tool or DApp added to the Pryvate app vault, because, quite simply……nothing can pry into Pryvate."
SOURCE Criptyque Limited