One of the more pressing matters in the world of Bitcoin and its conquest for global adoption is wallet security. With so many people now storing their bitcoins on a mobile device, providing adequate security has become more important than ever before. And, new platforms such as Tether – which allow for the use of traditional currency in the same manner as Bitcoin – need to be extra wary of the dangers lurking around the corner.
Tether – Combining Fiat Currency with the Bitcoin Blockchain
Tether is a unique company in the world of both traditional and digital currency. Due to their more modern approach to money – a thing a lot of us could learn from – Tether has managed to introduce fiat currency to the Bitcoin blockchain. Quite an astonishing feat, considering most people believe Bitcoin should [and maybe even will] replace fiat currency in the long run.
But, that is not all there is to it, as Tether allows all of the benefits we, as Bitcoin enthusiasts, receive from using the blockchain, to the everyday consumer using fiat currency. One of the features made possible by Tether comes in the form of instant global transactions to traditional currency.
To make it even better, Tether also lets you benefit from the price stability that is associated with fiat currency. Bitcoin is widely known for its price fluctuations, causing a great deal of concern for investors and retailers worldwide. But, by using Tether, your monetary value will be guaranteed at any time.
While all of the above sounds excellent, Tether has not lost sight of the core values that make digital currency and blockchain technology so important. The company is committed to providing complete transparency and checking all boxes regarding compliance for every jurisdiction the operate in.
“Regardless of whether we are dealing in cash or digital currency, security and privacy are always key concerns for every consumer. Our relationship with Rivetz and its app toolkit provides Tether users with the extra peace-of-mind that comes with top-level cryptography, without losing ease of use.” – Reeve Collins, co-founder and CEO of Tether told us.
Partnership With Rivetz For Additional Wallet Security
It goes without saying that Tether has been gaining a lot of attention ever since launching their service. However, not all of that attention is positive, as Tether also becomes a high-value target for hackers and hoodlums. In order to step up their wallet security game, the company has partnered Rivetz.
Rivetz is a hardware-based application leveraging the trusted execution environment [TEE] in order to secure transactions and communication between mobile devices. A little-known fact is that TEE is built into all Android-based devices at the time of manufacturing, and this technology is cryptographically locked and secured. To put it mildly, it makes for a perfect opportunity to provide additional mobile digital currency wallet security.
As a result of this partnership, Rivetz can use Tether’s digital cash while providing them with their core functionality of a state-of-the-art mobile payment system. By offering isolated protection of private keys, secure display and PIN entry, and a list of other features, Tether can now securely put money on any mobile device.
Furthermore, it is interesting to note that the security solution offered by Rivetz is being used by various Bitcoin e-commerce platforms. End-to-end encryption and protection of transactions assures novice and veteran users that mobile transactions, conducted with either Fiat or digital currency, are safe and secure.
“We’re excited to partner with Tether to put real money on a phone. Together, the companies combine state-of-the-art mobile payment systems with the advantages of cryptocurrency, tying them to units of value consumers are most familiar with.” Steven Sprague, Rivetz’ founder and CEO told DigitalMoneyTimes.
All images courtesy of Tether and Rivetz