Bitgo engineer Jameson Lopp is a Bitgo employee no more. The developer, who is one of the upper crust known figures in bitcoin, has been coaxed away to Casa, a startup essay to create a secure wallet for the crypto rich. With annual perpetuation fees running into five figures, the service is for hodlers with resonant pockets and an even deeper fear of being deprived of their cryptocurrency.
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Lopp Minutes the House of Casa
The launch of secure wallet Casa is an interesting one for a link of reasons. For one thing, the multisig service includes some additional discordant withs designed to thwart attacks that include physical threats. For another, the performers’s sudden emergence heralds the equally sudden departure of Jameson Lopp from Bitgo. The bitcoin developer is respected as a knowledgeable head within the industry, but it was no secret that he had his disagreements with Bitgo CEO Mike Belshe, who was an barrister for the abortive Segwit 2x split that was called off last November.
The by virtue of for Lopp’s change of employer may have been more prosaic how in the world: he was likely seeking a fresh and more lucrative challenge, and he’s found that at Casa. The ensemble was only started last summer by Jeremy Welch after cultivating $2.1 million in venture capital. The “premium hodl software” Casa has exposed is basically just fancy multi-sig with a fancy price tag to peer. There is no doubt, however, that the security market for high net merit hodlers is a burgeoning one, and thus Casa’s arrival is timely. The company’s present will be competing against the likes of Coinbase Custody, which also approach with a high annual maintenance fee.
Helping the Super Rich Continue That Way
The technology behind Casa isn’t novel, but it’s been well vended and has some high profile figures on board including Jameson Lopp. Therefore, it shouldn’t struggle to attract clients, and with USD fees reported to run into five individuals, it won’t need many of them to turn be profitable. The solution Casa drive be using requires three of five multi-sig approvals to release pools, with one of those keys stored by the company.
Casa reportedly has a few shoppers signed up already, and another 100 or so on its waiting list. The biggest take exception to the company may face is one of convenience. The biggest asset the super rich have is arguably not money, but the luxury of time that money brings. These people are normal to paying others to do their chores, and having to set up multi-sig and store a few wallets in multiple locations is the sort of task that may not come surely. Given the ‘effort’ involved, high crypto net worth individuals may present to offload all responsibility to a fully insured third party such as Coinbase.
Would you pay all through $10,000 a year for a multisig wallet service? Let us know in the comments part below.
Images courtesy of Shutterstock, and Casa.
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