Inspiration
I previously worked as a security provider for a crypto startup focused on high-frequency trading. My clients were custodians of multi-sig wallet keys, responsible for periodically signing transactions. Despite having robust security measures for scenarios like incapacitation or death, they were vulnerable to one critical threat: forced extraction of passphrases or seeds under duress.
Understanding that no one can withstand torture indefinitely, the idea was to create an instant mechanism to transfer control of the keys to a secure smart contract, which could then enforce additional recovery procedures.
What it does
This solution addresses a common issue for crypto holders: no matter how secure your setup, access codes, or recovery steps remain vulnerable in your head. The solution provides a universal mechanism to quickly transfer control of assets to a secure smart contract.
In this MVP, the user triggers the Omi by saying specific words, secret code if you want ;) Omi sends a callback to the server. The server then sends a transaction to initiate the transfer seamlessly.
How we built it
For now, we use an external integration app type and a simple webhook. Also, the app works for one user. We plan not to have private keys on the server, just the signed message, which can be published by anyone or restricted to the app contract address. We used the Safe Wallet cause it's an industry standard, and an external module can be written for it.
Challenges we ran into
Balancing privacy expectations in crypto-related products with backend app design is a significant challenge. Even if only signed messages are stored, a user's public key can still be derived, potentially exposing sensitive information. This creates a focal point where crypto users may have to store references to the accounts holding their funds, which contradicts the decentralized and private nature they often prioritize.
Another key challenge is ensuring the security of the necklace device itself. Collaboration with the Omi team is essential to research what information is stored on the device and how it is protected. Without robust safeguards, the necklace could become a vulnerability in the system.
Accomplishments that we're proud of
Remembering the use case from two years ago and connecting it with this new device to generate the idea.
What we learned
Open-source AI wearables can be highly appealing to developers and tech-savvy individuals. Throughout this project, I discovered 5-6 personal use cases for the product—applications that are uniquely relevant to me and unlikely to be developed by others. This highlights the versatility of the product and its potential to empower users to create customized solutions for their specific needs.
What's next for Safe Wallet Emergency Lock
Feature-wise:
- Address potential vulnerabilities in the MVP to make it reliable and usable for early adopters and enthusiasts.
- Connecting with the Omi team to get an understanding of the most secure approach.
- Develop modules compatible with widely used Safe wallets, enabling seamless connections to existing wallet ecosystems.
Product-wise:
- Connect with potential customers to gather feedback
- Potentially evolve the idea into a broader security platform, allowing users to create custom triggers and actions for various life scenarios.
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