Project description
Bitbox protects cryptographic keys
Cybercrime causes EUR 750 billion damages in Europe every year while attacks are becoming increasingly sophisticated. Blockchain technology is promising when it comes to tackling cyber risk, but its use does not automatically secure digital assets. The theft, loss or misuse of cryptographic private keys result in irreversible damage. Shift Cryptosecurity’s first product, BitBox, is a cryptocurrency hardware wallet; a tool considered among the most secure options to hold cryptographic keys. BitBox is aimed at individual users, and thousands are already used by customers in over 100 countries. Shift Cryptosecurity additionally targets institutional investors who need to address the critical problem of cryptographic keys' management for themselves and on behalf of their clients.
Objective
Cyber-crime causes €750 billion damages in Europe every year while attacks are becoming increasingly complex. Blockchain technology is promising when it comes to tackling Cyber Risk but the use of blockchain technology does not automatically secure digital assets. The theft, loss or misuse of cryptographic private keys result in irreversible damage. SHIFT CRYPTOSECURITY was founded in 2015 as a spinoff of the ETH Zürich university. We are a fast-growing team of 18 specialists, whose in-depth knowledge of advanced crypto engineering is exemplary. Our mission is to provide HARDWARE crypto-security solutions to individuals and enterprises. We have three products: BitBox - hardware wallet that acts as a digital vault. It is the most secure option to hold cryptographic keys. This product is aimed at individuals who own cryptocurrency and are realizing the vulnerabilities of other wallet options. BitBox first version is already used by 16K customers in over 100 countries thanks to our current trusted resellers & partners network. BitBox Enterprise - A combination of hot (software) and cold (hardware) storage consists of HSM and a multi-signature signing rules engine. This solution is aimed at Institutional investors who need to address the critical problem of cryptographic keys management on behalf of their clients and for their own investment vehicles. In 2016 alone over $1 billion was invested in blockchain by financial services and technology firms. We are certain that large-scale adoption of hardware solutions for holding cryptographic keys will inevitably arrive, as it provides the highest level of security for storing digital assets. We expect to generate €32 Million in profits and ROI of 11.9 by the 5th year of commercialization.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
- natural sciences computer and information sciences computer security cryptography
- social sciences political sciences political transitions revolutions
- engineering and technology electrical engineering, electronic engineering, information engineering information engineering telecommunications mobile phones
- natural sciences computer and information sciences software software applications
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
8134 ADLISWIL
Switzerland
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.