GateLive AMA Recap-Serenity Shield

How do you convince the average crypto user that #StrongBox should be your one-stop-shop for the benefit of your assets? Why not go for a different and more renowned project? And how are you going to instill confidence in your user base, since the team is anonymous?

Nikos Koukos and Venket Naga from Serenity Shiled:
First of all, Serenity Shield positions StrongBox DApp as the ultimate solution for managing and backing up data, not assets! Unlike other solutions, StrongBox DApp eliminates the need for hardware storage, offering a user-friendly experience. The decentralized approach ensures secure asset backup without relying on centralized servers, providing users with control and autonomy over their data.

The team’s transparency is underscored by profiles on the website and LinkedIn, allowing users to verify the individuals behind the project. Trust is built not on brand or individual recognition but on inviting users to verify the technology itself. StrongBox DApp empowers users, giving them control over their assets, in contrast to centralized storage solutions where control lies with the hosting entity.

In summary, StrongBox DApp stands out with a decentralized, user-centric approach prioritizing security, transparency, and an inheritance feature. Users are encouraged to verify the technology, experience the benefits of user control and security, and benefit from the added convenience of the built-in inheritance option for their digital assets.

Are there any strategies in place to attract investors outside of the crypto industry to join your project? The success of a project often leads to interest from investors who are not yet involved in cryptocurrencies. How do you plan to promote your project in the non-crypto space and raise awareness about it?

Nikos Koukos and Venket Naga from Serenity Shiled:
Serenity Shield is actively implementing strategies to attract investors beyond the crypto industry and raise awareness in the non-crypto space. A pivotal step involves a strategic partnership with Contentra Technologies, renowned for digitization services. This collaboration aims to enhance the commercial version, StrongBox Pro, making it more accessible and appealing to businesses outside the crypto sphere.

The project distinguishes itself by prioritizing both affordability and security, addressing concerns that resonate with a broader audience. By emphasizing these dual aspects, Serenity Shield aims to engage new users and businesses, showcasing the practical benefits of StrongBox DApp.

In addition, the project plans educational initiatives to demystify blockchain technology and actively engage with individuals and businesses unfamiliar with cryptocurrencies. This multifaceted approach seeks to bridge the knowledge gap and position StrongBox DApp as an attractive, user-friendly, and secure solution for a diverse audience.

How will the Serenity Shield platform and SERSH Eco navigate the regulatory challenges that may face in future and ensure compliance with relevant laws, especially in countries where decentralization may differ?

Nikos Koukos and Venket Naga from Serenity Shiled:
Serenity Shield is proactively addressing regulatory challenges to ensure compliance with relevant laws. A significant stride in regulatory compliance is the attainment of a Virtual Asset Service Provider (VASP) license in the European Union. This distinguished achievement places Serenity Shield among a select group of only 300 companies holding a VASP license in the EU. This license not only attests to the platform’s commitment to regulatory compliance but also positions it as a trusted entity in the digital asset space.

The VASP license empowers Serenity Shield to navigate regulatory complexities more effectively. It demonstrates a willingness to work within established legal frameworks and regulatory standards, fostering transparency and trust with regulatory bodies, users, and partners.

This milestone not only mitigates regulatory risks but also opens doors to introduce innovative products and services. Serenity Shield is poised to revolutionize prospects within the regulatory framework, ensuring that the platform remains at the forefront of compliance and sets industry standards

How does Serenity Shield adapt to evolving cyber threats, and what measures are in place to ensure continuous protection for its users?

Nikos Koukos and Venket Naga from Serenity Shiled:
Serenity Shield prioritizes the continuous protection of its users against evolving cyber threats through a comprehensive, multi-layered security approach. This includes collaboration with cybersecurity auditors like Hacken, ensuring regular audits to identify and address vulnerabilities. The platform employs robust security measures such as end-to-end encryption, private smart contracts to conceal StrongBox contents, and Shamirs Secret Sharding for data fragmentation which means 2 out of 3 keys are required to access information.

The commitment to ongoing development and improvement of security protocols demonstrates Serenity Shield’s dedication to providing a secure and trustworthy environment. Users can trust that their data is safeguarded through a combination of advanced cryptographic techniques and proactive security measures. This collective effort ensures that Serenity Shield adapts to emerging cyber threats, providing users with a resilient and secure platform.

The whitepaper briefly mentions multi-chain interoperability. How does Serenity Shield leverage this feature? What advantages does it bring in terms of the platform’s functionality, security, and user experience?

Nikos Koukos and Venket Naga from Serenity Shiled:
Serenity Shield optimizes its platform with multi-chain interoperability to elevate functionality, security, and user experience. Users can seamlessly access the multichain DApp through any compatible DEX wallet, streamlining the connection process. Upon connecting, users create a unique account, granting access to the StrongBox® vault and enabling the management of stored data and nominee preferences.
Sensitive data, like seed phrases or private keys, undergoes top-tier HKDF-SHA256 encryption before being stored on a private smart contract within the Secret Network Layer-1 Blockchain, ensuring utmost security.

The viewing key of the smart contract is fragmented into three distinct NFTs, each containing a unique piece of the key. These NFTs, minted on any compatible network, serve as access keys to the StrongBox®. Requiring two out of three NFTs for data access maintains user ownership and control while securely enabling access for designated nominees, adhering to predefined smart contract conditions.

Serenity Shield’s EVM compatibility enhances interoperability, expanding market exposure and providing users with increased choices, ultimately enhancing the overall user experience.