Country: Franceledger
Year: 2015

  • Cybersecurity: offer a hardware Bitcoin wallet or card to selected customers as a complement to the cybersecurity offering.
  • Bitcoin protection: an insurance company could investigate an insurance coverage for the Bitcoins stored on the hardware wallet (i.e. commodity insurance).

Concept

  • Ledger develops blockchain-based operating system, hardware wallets and accessories such as smart cards and micro USB port, to secure Bitcoin storage and transactions through the use of microchips and pin code encrypted systems.
  • The startup has already sold several thousands of their products in more than 80 countries.
  • Smart wallets and smart cards possess microchips to be unlocked with a pin code set up by the user. A wallet can store up to 1000 Bitcoins (currently equivalent to $450.000).
  • Users can transfer their Bitcoins from a wallet to another or proceed with Bitcoin payments with their smart wallets or smart cards via 3 different transfer modes: USB, Near Field Communication (NFC) and Bluetooth Low Energy (BLE) technologies. Users sending Bitcoins need to enter a code provided on a security black card sent along with the ordered device.
  • The enterprise wallet enables departments or key players within organizations to hold multiple private keys for a wallet as an extra security measure.

Consumer Benefits

  • Security: Users store Bitcoins in cold storage (offline), which guarantees a complete protection of user funds. Private keys such as pin code and security code are required to complete a payment or transaction to protect users’ Bitcoins from malwares, viruses, hacking attacks or data breach and ensures payment security.
  • Capacity: Ledger provides the highest Bitcoin wallet capacity of the market (to date).
  • Enterprise option: Ledger smart wallets can be used for enterprise needs.

How to use

  • Users order their Ledger products online. They go to my.ledgerwallet.com and install the Ledger Wallet Chrome app for free. Then they plug their smart wallet into their computer USB port, set up their PIN code and get a 24-word encryption used to restore a Bitcoin wallet and recover Bitcoins in case they lose or destroy their Ledger smart wallet device.
  • Users can plug their Ledger smart wallet in any USB port and enter their PIN code to send or receive Bitcoins via secured addresses (character-chains users can copy and send or a QR-code). The wallet will reset itself with a wrong PIN code is entered 3 times in a row.

Illustration

  • Video “Bitcoin wallet – Ledger wallet”
  • Video of Ledger FIDO U2F with the Unplugged

https://youtu.be/aIVRIRj_Qs8

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