Casa Multisig is the ultimate blend of security, privacy, and control. Your keys, your bitcoin. The way it should be.Technical briefing by Nick Neuman & Michael Haley.
Overview of briefing
00:00 – 2:38
Nick opens with an introduction to Casa by explaining the problem the platform is solving. Specifically, that 4 million of the 21 million bitcoin available have already been lost.
Nick explains the existential nature of this problem by pointing out the potential failure point in terms of trust if bitcoin are being lost on a regular basis.
Enter: Casa. Casa is building a personal key manager so bitcoin owners can safely and securely store their bitcoin private keys. Casa gives users the peace of mind to know that losing one key is not the end of the world as it once was.
The Casa system has built the ability for a multitude of keys to cover one pool of bitcoin.
2:38 – 3:56
Nick shares his screen to show the Casa interface. He is demonstrating the highest grade of Casa Security.
He explains that one key is on your phone, three keys are on hardware wallets (trezors or ledgers specifically), and the fifth key is held by Casa. Casa uses “multisig” in order to allow for multiple keys on top of the single bitcoin hodl.
This is the “savings” portion of the be your own bank crypto platform that Casa is building.
3:56 – 4:41
Moving to the spending side of the product, you see a single mobile key that allows you to seamlessly send bitcoin.
Nick points out that design has been an afterthought in the cryptocurrency industry. You can see that the beautiful interface of Casa was very clearly a decision. Design was no afterthought here.
4:41 – 7:21
Nicks moves on to sending a transaction as the next piece of the demonstration. This is an example of using the multiple keys to send.
To keep it simple, Nick is sending 1 bitcoin from one wallet on his phone to another.
Sending the transaction acted as the approval for the first key. Now, there will be two more key signatures required.
Nick went on to add both signatures through two different mediums.
7:21 – 8:53
Nick explains the process for a compromised or lost key. There’s a simple interface to report a compromised key.
Replacing the key is very similar to the initial sign up and almost “grows a new limb” where one seemingly fell off.
This gives the user the power of the ability to make a mistake, which the classical bitcoin hardware and software didn’t allow for.
8:53 – FIN
To end the demo, Nick explains Casa’s maniacal focus on support and helplines.
V-Sum_Six is made possible by Costanoa Ventures and IowaEDA.