Shuttle Holdings, an investment company from New York, is reportedly going to launch a beta version of the custodian service for digital assets based on IBM’s private cloud and encryption technologies late this month.
The companies that will participate in the project will not store the tokens themselves but will provide the tools for this to their customers, namely banks, brokers, other asset custodians, funds, family capital management units, and high-income investors, etc. It will not be available to general public at the moment, however, and only a limited number of selected applicators will participate in beta testing.
Notably, IBM presented the solution to be implemented in the Shuttle Holdings service at "Think 2019" in February 2019.
IBM's latest initiatives prove that the company is rather interested in the infrastructure to store digital assets. Earlier, it designed blockchain with limited access and transaction service based on the Stellar technology.
The developers of the new service claim that they will not resort to using the generally accepted model of cold storage, where devices are not connected to the network. Instead, they are planning to create a solution that will allow customers to quickly access their digital assets with a decent level of security based on hardware security modules (HSM).
Сold storage solutions require a human to access the crypto, which can take too much time, while HSMs are based on a purely electronic process, so time costs are significantly fewer.