A startup called Carverr offers the service of securing cryptocurrency passwords by saving them in DNA.
Keeping crypto passwords secure is not an easy job today when hackers trying to prey on digital assets are everywhere. Even the so-called unhackable Bitfi wallet is said to have been hacked several times, although the company and spokesperson kept on denying the claims.
Now, there's an alternative medium to store your digital data, especially those that contain your assets, such as your cryptocurrency account credentials. A startup called Carverr offers the service to store your digital information in DNA.
While it sounds eerie, Carverr's CEO, Vishaal Bhuyan said DNA is a different yet legit kind of encryption tool. Furthermore, the DNA used is synthetic DNA, not taken from living creatures.
Quoting what the CEO said to Cnet, "DNA is the only thing that won't become obsolete. So the way I look at it, this is a trust or 401(k) that you can allocate some of your assets to and keep for a very, very long period of time."
Bhuyan claimed to have twenty-eight people signing up to his service and paying the $1,000 fee thus far. Most of them are people who own a large amount of cryptocurrency saving and plan to hold it for a very long time. He's also looking at expanding his service to banks and major cryptocurrency holding firms.
So, how does this saving to DNA work? It turns out to be pretty straightforward, not as complicated as anyone thinks. The data is broken down to binary first, before translated to the language of DNA using a conversion system. For example, with conversion system A = 00, T=01, C=10, and G=11, the string 11000101001000 would translate to GATTACA.
The DNA that contains the data will look like a drop of liquid sitting at the bottom of a plastic microtube. The tube will need to be stored in a cold space, such as the freezer in the refrigerator to preserve it better. And anytime the data owner wants, they can take it to a lab with a sequencing machine to have it read.
Carverr's service offers a sophisticated conversion system for more security. So, even if the vial is being stolen, they have to know the conversion system in order to be able to crack it. This way, the company ensures that heist to customers cryptocurrency data saved in DNA would be very difficult.