@coinbureau Banks were never going to hold keys the way crypto natives do.
MPC with checks before approval fits how th | Hanami
@coinbureau Banks were never going to hold keys the way crypto natives do.
MPC with checks before approval fits how their risk teams already think about controls, so this could speed things up.
Reply to @coinbureau: ⚡️UPGRADE: Google unveils a new CRYPTO SECURITY system for banks as compromised private keys accounted for 43.8% of crypto theft in 2024, per Chainalysis.
The new Multi-Party Compute (MPC) service splits wallet keys across multiple systems and checks transactions BEFORE approval, reducing the risk of a SINGLE breach exposing funds.
Alphabet is already using the technology to secure assets on Ethereum and Solana, while major financial institutions are testing it.
Google also plans future POST-QUANTUM security upgrades, with commercial rollout targeted for early 2027.