IBM Launches 'Hyper Protect OSO', a Cold Storage Tech to Bolster Crypto Asset Security

Published: December 06, 2023 at 2:20 am Updated: December 06, 2023 at 2:20 am

Edited and fact-checked:
December 06, 2023 at 2:20 am

In Brief

IBM launched its new cold storage tech Hyper Protect Offline Signing Orchestrator, designed to enhance the security of crypto asset.

IBM Introduces Advanced Cold Storage Technology for Enhanced Crypto Asset Security

IBM unveiled its latest innovation in cryptocurrency security, the IBM Hyper Protect Offline Signing Orchestrator (OSO). The cold storage solution aims to revolutionize digital asset management by reducing risks associated with manual procedures and keeping assets secure from internet exposure.

The Offline Signing Orchestrator actively brokers communications between applications that are not designed to interact directly. This setup aims to eliminate risks posed by privileged administrator access, operational costs, errors and scalability issues in crypto asset management.

Moreover, IBM’s OSO offers additional layers of security for high-value transactions. These include disconnected network operations, time-based security and electronic transaction approval by multiple stakeholders.

This system ensures a higher level of protection for transactions while maintaining the assets offline.

IBM’s Commitment to Crypto Security

In recent years, IBM has been applying its expertise in key management and confidential computing to digital assets and cryptocurrencies. The launch of OSO reflects IBM’s ongoing commitment to enhancing security in the rapidly evolving world of digital currencies.

IBM’s new technology addresses the inherent limitations of cold storage related to human interactions. These interactions can lead to inside jobs, forced attacks or operational errors at data centers — which the OSO technology aims to mitigate.

IBM has implemented its OSO technology with the help of Ripple-owned custody firm Metaco. The collaboration highlights the practical application of IBM’s new security solution in real-world scenarios.

The introduction of IBM’s Hyper Protect Offline Signing Orchestrator marks a significant step forward in crypto asset security.

With the launch of this technology, IBM continues to establish itself as a leading innovator in the field of cryptocurrency security. This development paves the way for safer and more reliable digital asset management.

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About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master’s degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Nik Asti