I believe we are on a dangerous path if we continue to design PC and mobile based wallets in the same way that traditional desktop/mobile applications behave…..with high predictability. Hackers all over the world are studying how each wallet works and are developing hacks for them. Even a 10% success rate is bad news for the entire future of cryptocurrency.

I'm going to make an analogy here to get my point across. When an uninitiated thief breaks into the house of a security conscious homeowner, he has no idea where the valuables are kept. Experience will lead him to look through the usual places but the reality is that he has a near- infinite amount of places to search through in the short amount of time he has. The homeowner did not consult with a public body on where best to hide the valuables and neither did they purchase a “where to hide your valuables” blueprint from the local department store. All of which would’ve given the thief that extra edge. The homeowner used their own near-random selection processes to best determine how and where to hide the valuables. The homeowner not only wrapped the valuables up in a disguise (encryption) but determined the location and the steps taken to get to that location (.exe name, location, look and feel of the GUI interface). During his planning, the thief had no ability to determine the exact location of the valuables. Heck he didn’t even know what to look for because the valuables, would for sure be disguised. This is how we need to approach the design of digital wallets.

We need to introduce a concept whereby the end user effectively designs the name, address, look, functionality and behaviour of a wallet. Wallet hijacking is destined to become #1 most prolific type of online crime. I feel the best way we can combat this is to reduce the predictability factor. Empower the end user to design their own wallets by developing tools that make it easy (Studio concept)