• South Korean software giant AhnLab released a crypto wallet, ABC, for Android and iOS devices.
• The wallet includes security features such as crypto threat and fraud alerts, as well as “Secure MPC” private key technology.
• AhnLab is one of many South Korean firms to enter the crypto space in recent years.
South Korean software giant AhnLab has unveiled its very own crypto wallet, ABC, for Android and iOS devices. The wallet is the latest venture of the tech entrepreneur and presidential candidate Ahn Chul-soo, and is part of his company’s dedicated subsidiary, AhnLab Blockchain Company.
This move follows a recent trend among South Korean tech firms to move into the crypto space, as more and more businesses explore the potential of blockchain technology. However, AhnLab has made sure to build in some unique security features to the wallet.
The wallet includes a range of security features such as crypto threat and fraud alerts, which are collected by AhnLab and its partners. Moreover, ABC also provides “warning” notifications when users attempt to interact with “risky wallet addresses”. One of the most unique features of the wallet, however, is the “Secure MPC” private key technology.
Instead of using a conventional private key, the ABC Wallet gives users three “key shares”. Two of these three must be used in combination to activate signature and recovery functions on the wallet. This makes it much harder for hackers and voice phishing criminals to access the wallet.
The release of AhnLab’s ABC wallet comes at an interesting time in South Korea’s crypto landscape. The country’s government has made it clear that they are open to exploring the potential of blockchain technology, while at the same time imposing a number of regulations on the sector.
AhnLab’s move into this space is also likely to be seen as a positive step. Ahn Chul-soo has expressed his support for the world of crypto in the past – and has been vocal about the potential for blockchain technology to revolutionise the economy.
It remains to be seen whether AhnLab’s ABC wallet will be able to stand out from the competition. However, with its unique security features and the backing of one of South Korea’s biggest tech entrepreneurs, it is sure to be an interesting addition to the crypto landscape.