Key recovery
& 4-eye 2fa reset
My role
Senior Product Designer
Duration
3 months
Team
5 Product Designers
2 Product Managers
3 Analytics
10+ Developers
DIGITIZING
THE
Secure tokenization
of upstream industrial
assets through distributed
ledger technology.
PHYSICAL
WORLD
Atomyze Blockchain Platform
In the evolving landscape of asset tokenization within the crypto industry, many platforms have emerged, each attracting a growing user base. However, a common limitation across these platforms is the need for more transparency and discoverability in their architectural design. Addressing this gap, the Atomyze platform is engineered on Hyperledger Fabric's permissioned blockchain technology, offering a transparent and robust solution for tokenizing tangible assets. The Atomyze blockchain platform enables businesses to secure financing more easily and quickly than on the traditional market. For investors, it opens up new assets and provides the opportunity for direct transactions.
Industrial customers
Through tokenisation, contracts with major industrial partners such as Traxys SA and Umicore SA were partially put onto the blockchain in 2020.
This is the first important step towards the transition to digital trading tools that ensure efficiency and transparency throughout the supply chain.
Stock traders
In 2021, Atomyze joined the Responsible Sourcing Blockchain Network (RSBN), which brings together sellers and buyers of minerals and their products.
The use of the blockchain ensures responsible sourcing and supports responsible production at all stages, from mining to the sale of finished products.
Supply chain audits
Atomyze’s supply chains will be audited annually by RCS Global for compliance with key responsible sourcing requirements.
The audits cover each stage of the Company’s operations, from US mines to refineries in Finland and Russia.
Once audited, each supply chain will be brought on to the RSBN and an immutable audit data trail will be captured on the platform.
Sustainable
development
At later stages, other data such as Nornickel’s upstream and concentrator carbon intensity and other ESG metrics will be tracked as part of the RSBN project.
Technical guarantors
Swiss Financial Market Supervisory Authority FINMA
SumSub verification platform
Hyperledger Fabric
What I did
As a Senior Product Designer, I went from the initial acquaintance with stakeholders to the final development and testing of the project. I participated in all processes of working on the project, including:
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Validating stakeholder visions of opportunities within timeframes and technical constraints.
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Conducted user research and interviews
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Forming the stages of work, the primary structure of the project, and estimating it in terms of human-time, work hours, and development order.
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Conducting user testing and brainstorming sessions with team members.
Keys
Security
Keys play a critical role in crypto platforms and smart contracts, as they ensure secure management and access to cryptocurrency funds and digital assets. In crypto platforms, keys are used for signing transactions and securing wallets. Smart contracts also operate based on keys, where a private key is used for transaction signing and contract management, while a public key is used for signature verification and contract data access.
The significance of keys in security lies in their ability to provide confidentiality, integrity, and authentication of data. Private keys must be securely stored and not disclosed to third parties to prevent unauthorized access to assets. Public keys, on the other hand, are distributed for authenticity verification and authentication, ensuring secure data transmission and execution of smart contracts.
Overall, keys play a vital role in ensuring the security and reliability of crypto platforms and smart contracts, and proper key management is crucial for protecting digital assets and fostering user trust.
Keys & Wallets
Key security, including the procedure for recovering a forgotten key, is directly linked to the wallet itself. The creation of wallets and access to different types of wallets by various types of users is a separate, extensive topic for discussion. Here, I would like to highlight that there can be variations distinguished by the following aspects:
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Requiring the signature of one or two issuers.
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Storing the key on the user's side or on the Custody system's side.
It's also important to understand that key security requirements are incorporated into the regulations of countries and partner guarantors.
Key Recovery
Swiss solution
Key security, including the procedure for recovering a forgotten key, is directly linked to the wallet itself. The creation of wallets and access to different types of wallets by various types of users is a separate, extensive topic for discussion. Here, I would like to highlight that there can be variations distinguished by the following aspects:
-
Requiring the signature of one or two issuers.
-
Storing the key on the user's side or on the Custody system's side.
It's also important to understand that key security requirements are incorporated into the regulations of countries and partner guarantors.
Key recovery original flow
Personas
Business
Solution
Our task was to optimize the wallet key recovery process while maintaining all security standards and regulations but avoiding unnecessary strain on the system and business (requiring 4 different managers to approve and verify a single request).
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After a series of brainstorming sessions with analysts and meetings with business representatives and security department members, we decided to completely abandon custodial wallets, retaining only the manual option.
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Shift the focus on security to user verification during: Registration, Login, KYC, and 2FA.
User Interviews
Due to the nature of the business, where stakeholders are often very close to potential or existing users, interface communication and testing could occur quite intensively and frequently, particularly discussing issues of security versus system flexibility and user-friendliness.
Primary User Output
We deal with an extremely unique segment of society—confident users with the highest level of technical proficiency, having no secondary questions and knowing precisely how and why to use wallets and their keys.
Additionally, we found that the majority of traders value and understand the necessity of security and its associated protocols, but the ability to be without access to their main trading resource for an extended period (14 days?) is a dealbreaker for them.
New Security Flow
4-eye 2FA reset
Learnings
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Highly loaded, complex financial systems with a vast network of transitions and possibilities are always required to balance between system security/closedness and its flexibility/user-friendliness and accessibility.
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A system can be sufficiently secure and user-friendly at the same time, which requires a significant amount of architectural work and extensive communication overall between all departments and stakeholders, from business to backend.