It is open source right?
Can you give us a link to the source code?
It's closed source for now. Might change it later.
If it is not open soruce it is not a wallet, it's a bank.
What makes it a bank? If the users own the private keys then how is it a bank..
The point is that the user CAN NOT KNOW that (only) he owns the private keys.
It would be way too easy to have a backdoor installed in the wallet (either by directly letting the attacker/publisher connect to the PC or by using a predefined seed-pool).
One should NEVER use/trust a closed-source wallet without any reputation. In most cases this will have a bad end.
There is no reason to use such a wallet.
1) The concept CAN NOT work.
2) It MIGHT be malicious.
3) There are BETTER (open source) wallets available.