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In a press release sent to BTC Times, The Bitcoin Way introduces a No-KYC Collaborative Custody Solution using Nunchuk that focuses on heightened security and user privacy.
The Bitcoin Way's Custody Solution emphasizes user autonomy. Users retain full possession of their Bitcoin keys, with the company holding a backup key for unforeseen situations, addressing potential worries about key misplacement.
The primary aim is to bolster user trust in managing their Bitcoin holdings.
The No-KYC Collaborative Custody Solution provides a framework for individuals or groups to jointly manage their Bitcoin assets.
Features include multi-user transaction authorization, a system that permits shared control, combined transaction and coin oversight, and a private chat function for secure group discussions.
This solution also has additional features like broad hardware support, an emergency security feature, and an alert system to keep users informed. Future developments, such as inheritance arrangements and scheduled payments, aim to enhance the user experience.
In contrast to many standard custody options that require detailed Know Your Customer (KYC) checks, potentially infringing on user privacy, The Bitcoin Way's solution emphasizes user anonymity, aligning with Bitcoin's foundational values.