When you think about the word ‘Credit’, trust is money at the end of the day. In today’s digital finance era, you often have to entrust a counterparty to send or store your money (of which you are not 100% sure whether if you can trust them).
Blockchain and cryptocurrency have established a trustless system to store and transfer money where you don’t have to trust others and is theoretically safe. However, ironically, now the money is in the hands of 3rd party services such as exchanges, wallets, and dApps and you have to trust them to use their service.
In order to use Clay, users have to put in their Private keys, API keys from exchanges, and sensitive financial/individual information like KYC documents. There have been cases where scams disguise themselves as wallet service and steal user information, or hackers breach the security measures of the company and take them. You don’t have to worry about that in Clay, and here’s a few reasons why.
You can trust the people running Clay
The Clay management team is a team of trustworthy people who have IT / startup industry experience.
CEO Moon has worked 4 years at EA Korea, starting from J2M Games, which made ‘Raycity’ and later was merged with EA Korea. After that he started his own, Fandom (K-pop idol social media service, 4 million downloads) and continued service for three and a half years until successful exit. He is a serial entrepreneurs and full stack developer.
Kain Seo, CSO, graduated from SNU majoring industrial engineering. He launched ‘1km’ app and during the 3 years of his operation, the app reached 4 million downloads while he was in e-motion. Later on, e-motion and 1km was merged by Yellow Mobile. After that, he has developed other social media services at his own startup and also worked at vonvon.me.
Junhyuk Kim, CTO, graduated from SNU majoring computer science. He worked at Com2us for 3 years managing the server system of HIVE, a consolidated game platform. He later joined Moon and worked at Fandom and Team Twelve, a startup for amateur soccer teams, for one year.
You can trust the partners
Clay (previously Coinmanager) is an accelerating project and investment portfolio of Hashed, Korea’s number one blockchain fund/accelerator. Hashed is one of the most trustworthy investors in the industry. (Hashed investment portfolio)
Also, Clay is the first official wallet partner of Ontology, and supports users to enjoy various features of Ontology on mobile. (Ontology official dApp partner list)
Other than that, Clay has partnered and is working closely with reputable projects such as Kyber Network, Sentinel Protocol, and Carry Protocol.
Also, Clay has an advisory board of experts from blockchain fund, decentralized exchange, security industry, startup industry, and legal. Especially, we are focusing on complying with the local laws and regulations.
Decentralized key management
Clay is a decentralized wallet, so we do not store sensitive information like private keys on our server; they are encrypted and stored in the safe storage of the local device. Clay does not store your assets for you; each user has full authority on the user assets.
Let’s say a hacker breaks in to the Clay server, (which itself is very very difficult to do) there will be nothing the hacker can take. No employee of Clay has access to the private keys of the users.
This is one of the strengths of decentralized wallets compared to centralized wallets or exchanges.
And more…
The above explains about how ‘trustworthy’ the people are making Clay. We believe that we should give back to the users full control of their crypto assets. At the same time, we are implementing systems in place to ensure that our product is safe.
Monitoring system from security companies
We are contacting security and audit companies that will be able to consult and certify the security measures of Clay, so that we can better protect the users’ assets. We believe that we will be able to receive a world-class certification in the near future.
Open source management
We are currently considering to open source our key management code. Anyone can review our codes and make sure that the users’ keys are safe.
We will keep you updated on our works to ensure the credibility of Clay and the team.
What is Clay?
Clay is developed by Coinmanager, a cryptocurrency wallet project with over 450k downloads in Korea. With Clay, you can enjoy easy crypto finance service such as exchange trading, ICOs, crypto funds, savings, and etc. with assets stored anywhere, including exchanges.
