Courts are handling confidential material belonging to either citizens or companies, potentially taking vulnerable information like private keys and placing it in public records. When courts have access to private keys, they may be able to seize any cryptocurrency assets without due process in a form of virtual civil asset forfeiture. When private keys appear in public records, any public agent will have access to companies and individual's cryptocurrency wallets, and freely acquire those assets.
Many companies are unable to test proof of concepts without violating regulatory compliance, and Wyoming provides a legal structure where companies may benefit from being able to test new solutions in a sandbox environment without being subject to regulation.
What it does
We provide an open source, Wyoming hosted service that will allow Companies and Individuals (Users) to store their private keys, and test software in an environment under the custody of a Wyoming LLC.
We offer three distinct services through our package; Entity DIY, Entity Rental, and Entity Purchase. These are various ways of providing a service that will protect private keys for bit-wallets from court's ability to subpoena and access companies and individual's blockchain coins. In Wyoming law, an LLC provides protections against being forced at the state level to offer up the private keys.
SovereignKeep provides Users access to the powerful legal protections of a Wyoming Entity at the click of a button.
The Entity DIY service exists in the form of our solution providing Users with Software they may host themselves. Self-hosted one click security audited set of best-in-class tools to host an open source repository and an encrypted cloud KeyStore.
The Entity Rent service requires a monthly fee for Users to access a restricted child LLC under the SovereignKeep name. Due to Wyoming law, any ERC-20 or Private Keys and Blockchain Tokens are protected allowing for fewer attack vectors and resulting in enhanced security of our client’s assets. SovereignKeep will provide a sandbox under the protection of a Wyoming LLC. Users will be able to access virtual machines and computing power, providing users the ability to test projects in a sandbox environment. SovereingKeep will be the holder of the data, with the data stored in an encrypted format only accessable by the Users. The docker file will create a secure webhost with a GitLab instance on one of our cloud servers in Wyoming. The open source server will be protected by SSH, on a hardened server, with open-source software. The access to the server will be secured to only the user.
Entity Buy is where we can transfer the token and ownership of the child LLC to the user at the touch of a button. Any projects or data stored on our servers can be moved or kept on our servers.
How we built it
We have a docker compose instance that combines KeyPass, OpenLaw, and GitLab to create a server-sided instance of our storage and hosting software that is accessible by clients through our front end.
Some of the tools we used are: GitLab Open ESQ OpenLaw KeyPass Docker Docker Compose
Challenges we ran into
Our foremost challenge was creating an applet package under docker compose.
Accomplishments that we're proud of
We created a simple solution for businesses to enter into the crypto market and protect their crypto assets, while bringing them into the State of Wyoming.
What we learned
We learned that we can have the SEC and State level to write a letter of No Action that will allow us to be free from legal liability for our users' actions on our servers.
What's next for SovereignKeep
Our next step is to create payment channels and subscription rates. These will be aimed at an anonymous payment subscription service. Payment channels for service - anonymous payment subscriptions for services Micro-payments (hourly, per use) Distributed hosting in Wyo jurisdiction (kubernetes) Partnering with TOR end nodes - like @ UW - with some nodes to allow fluid private access