- IBM’s new OSO technology enhances cold storage security for digital assets.
- OSO addresses cold storage risks like insider threats and manual errors.
- Metaco integrates IBM’s OSO for regulatory-compliant, secure cryptocurrency custody.
IBM has introduced a cryptographic signing technology for handling digital assets in cold storage. This technology lessens the dangers that come with manual methods and keeps the assets away from online access. Known as the Big Blue, IBM announced on Tuesday that its new tool, named IBM Hyper Protect Offline Signing Orchestrator (OSO), safeguards important transactions. It does this by adding extra security features such as operations that are not connected to the internet, security that depends on timing, and the approval of electronic transactions by several people involved.
Recently, IBM has been using its expertise in key management, especially its confidential computing technologies, to focus on digital assets and cryptocurrencies.
IBM points out that the main issues with cold storage are related to human involvement. These problems can include insider threats, forced attacks where someone is threatened to approve a transaction or other mistakes made by data center administrators or through basic “pen and paper” methods.
IBM’s latest OSO technology is now being utilized by Metaco, a custody company in the cryptocurrency sector owned by Ripple, which has been a long-time collaborator with IBM.
“IBM’s confidential computing division has been a reliable partner throughout the years, and we are pleased to complement Metaco’s catalog of institutional cold storage solutions with the unique air-gapped cold storage that OSO enables, especially as cold storage requirements are increasingly being stipulated by regulators in markets such as Singapore, Hong Kong and Japan.”
Adrien Treccani, Founder and Chief Executive Officer at Metaco
IBM’s confidential computing division has consistently been a strong partner, and Metaco is excited to add to its portfolio of institutional cold storage solutions with the unique air-gapped cold storage feature that OSO offers. This addition is increasingly important as cold storage requirements are becoming more common in regulatory demands in markets such as Singapore, Hong Kong, and Japan, according to Metaco CEO Adrien Treccani.
