SIRIN LABS’ Dedication to Security Doesn’t Sacrifice User Experience
On December 5th, 2018, day 2 of the Slush conference, HTC’s Chief Decentralization Officer Phil Chen took to the stage to discuss some of the ideals and the vision behind HTC’s new Exodus phone.
Mr. Chen, in conversation with Litecoin’s Charlie Lee, began with an explanation of some of the various options for wallets along with pros and cons for each. He accurately pointed out that cold storage wallets are the most secure option, but also voiced concerns regarding challenges of usability.
Chen cites the user experience challenges associated with cold storage wallets to justify HTC’s decision to use a hardware wallet instead of a cold storage wallet. In fact, both he and Charlie Lee talk about the necessary trade-offs or balances of security for the sake of user experience and usability.
When HTC appointed Chen to his role as CDO, many in the crypto community (including us) were incredibly excited. It seemed as though HTC was going to start taking the crypto sector very seriously, and have Chen represent the values and ideals of the crypto community directly to HTC.
This is why hearing Chen speak in this way regarding crypto cybersecurity is both incredibly disappointing, as well as, unfortunately, not surprising at all. The compromise of security for the sake of user experience is not new; it has been going on within the mobile industry for many years.
On Page 1 of the SIRIN LABS whitepaper which was published in October 2017, the second paragraph states:
“The current generation of smart devices compromises on user security. The focus is overwhelmingly on user experience, at a huge cost in fraud and cybercrime. We believe the digital economy of the future cannot tolerate this trade-off: device architecture demands a paradigm shift that enables true security, while maintaining excellent user experience.”
SIRIN LABS, since the inception of our whitepaper, has held an unwavering belief that security and user experience are not mutually exclusive. While it is much easier to reduce a device’s security for the sake of user experience, our belief is that cryptocurrency demands the highest security possible. Users will be putting their trust in us to safeguard their currencies, and we take that responsibility incredibly seriously.
SIRIN LABS believes that any company that wants to build a crypto-enabled device must provide the highest levels of security for the currencies stored within. Security must be the #1 priority, with no trade-offs, compromises, or balances. We disagree with both Chen and Lee that enabling the superior security from a cold storage wallet necessarily compromises user experience (UX).
What we have built in FINNEY™ is the embodiment of our vision: a simple and easy-to-use device, with an embedded cold storage wallet that isn’t cumbersome or frustrating to use. Simply put, FINNEY™ provides users with the level of security the crypto community deserves without compromising on its usability.
As a recent hands-on review from Digital Trends states:
“The user experience team that worked on the Finney’s wallet app has delivered on its promise to create an incredibly user-friendly system, which makes payments simple — just like they should be. Paying a bill, or sending money, takes only a few steps. It starts out with scanning a QR code, entering the amount, and then verifying the details using the slide-up Safe Screen cold storage wallet. This is the Finney’s standout design feature, and what keeps your money safe and secure. The hardware is separate to the phone’s hardware and isn’t connected to the internet until it’s necessary.”
FINNEY™ is a product of passion, enthusiasm, and excitement for crypto. We built FINNEY™ to bridge the gap between the blockchain economy and the mass market by providing users with unparalleled security and uncompromised usability. The crypto community deserves nothing less.