How the Vaultavo Custody Solution facilitates the initiation and verification of transactions
The transaction initiator selects the crypto currency and the destination address; the selected information is displayed on the Vaultavo Card’s screen.
To initiate the transaction, the user places their fingerprint on their card’s fingerprint reader. The card generates an encrypted message with all the transactional information. This encrypted message is sent to the Vaultavo cloud-based Digital Platform, which notifies the transaction verifier(s) and displays the transactional information on the Vaultavo Card. The verifier(s) then have the option to approve or decline the transaction, which is done biometrically. The card in the Vaultavo Vault confirms authenticity and verifies the rules against the client’s policy – for example limits, whitelisting, backlisting, etc.
The transaction is then created and signed and pushed onto the blockchain via secure blockchain nodes. The progress of the atransaction is monitored on the blockchain, and once completed, it is marked as “completed” on the Vaultavo Digital Platform and can be viewed on the Vaultavo Portal.