How We Think About Storing Crypto is Broken
summary
Claims a working prototype called Kong physical crypto cash: a printed note plus an NFC-enabled secure element (P-256) key signer that never exposes its private key. Tokens sit in an Ethereum smart contract escrow that recognizes P-256 signatures and enforces a 3-year timelock before redemption. Demo hardware verifies signatures with a phone; project launched publicly at DEFCON and distributed prototype notes as prizes. Focus is on open, fixed-function chips and on-chain rules rather than mutable firmware or custodial exchanges.
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chapters (13)
- 0:00Intro
- 1:16How is crypto shaped
- 3:20Cash vs crypto
- 4:40Cash is still massive
- 5:11Trust
- 6:27Java Card
- 9:27Secure Element Chips
- 11:23Silos
- 12:27Open chips
- 14:15Decentralized web
- 17:02Stablecoins
- 18:24Onescale projects
- 19:41Central bank digital currencies
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