Bitpay Launches New Bitcoin Wallet Copay, Integrates Intel Security Technology to Provide Ultra-Secure Storage

Bitcoin merchant payment processor Bitpay has announced the launch of a new Bitcoin wallet called Copay that leverages Intel’s security technology to provide ultra-secure storage.

Bitpay’s Copay wallet has integrated Intel’s Intel® Software Guard Extensions (Intel® SGX) and Intel® Identity Protection Technology (Intel® IPT) with Protected Transaction Display (PTD) to provide users with secure private key generation, secure transaction signing, and added protection for users’ private keys.

Since Bitcoin was launched in 2009, exchanges and wallets have been the target of cyberattacks. This has resulted in the theft of millions of dollars worth of cryptocurrency. Therefore, a new wallet alternative that focuses primarily on security will be easily accepted by the Bitcoin community. In particular, businesses that will rely on Copay to trade more digital currencies will appreciate the additional security that Copay brings with its integration of Intel security technology.

Bitpay CEO Stephen Fair said that Copay will be demonstrated at Money2020 this week and the final product will be available in the coming months. He said:

“Providing user-friendly financial security is one of Bitcoin’s biggest challenges, and Intel’s silicon-based security will help Bitcoin move further into the mainstream. We look forward to making Copay available to users in the coming months.”

Regarding the integration of Intel technology into Bitcoin wallets, Rick Echevarria, vice president of Intel’s software services team, made a statement in response to Bitcoin enthusiasts’ assertions that Intel supports Bitcoin and blockchain technology. He said:

“The decentralized trust enabled by blockchain technology has the potential to transform Internet transactions, starting with Bitcoin. Through blockchain technology, the security and computing assets we provide, Intel hopes to bring decentralized trust to a wide range of Internet asset transactions.”

As some cutting-edge technology companies, such as Microsoft and IBM, have entered the blockchain field, the technology has attracted the attention of some other companies, such as Intel and Samsung. In June 2016, Intel joined the Hyperledger blockchain project led by the Linux Foundation, which is developing its own blockchain chain technology - 'Fabric'.

Increasing the security measures for storing and mass-transacting Bitcoin will play an important role in Bitcoin’s global commercial use. Therefore, Intel’s involvement in improving infrastructure is a big step in the right direction for Bitcoin’s mass adoption.