Digital Currency Revolution Series: Freessets Inc Launches Privacy Tools For Crypto-Wallets

Japan authorities introduce paradigm shift in cryptocurrency regulation in the recent past, on the back of the Japanese regulatory developments, Freessets Inc appears to be expanding business services by launching new privacy feature for crypto-wallets.

Japan legalized cryptocurrencies as a means of payment under the amended Payment Services Act back in April 2017 and crypto exchange operators are required to register with the FSA. 

Currently, there have been many ‘FSA-approved’ cryptocurrency exchanges in Japan. 

Upon the new regulatory framework, crypto trading platforms in Japan are transforming their provisions of service with an objective of abiding by the compliance with the new law.

For now, Freessets has come up with a brand new feature to ensure crypto-wallet privacy.

Per announcement, they are introducing their debut attempt of PIR-technology powered PoC implementation presents a monumental development in UTXO privacy. Bunkyo-ku, Tokyo–June 8, 2020– In a first-of-its-kind development in the world, Fressets Inc., a leading enterprise cryptocurrency wallet provider, has designed a new technology utilizing a protocol in cryptography called Private Information Retrieval (PIR).It enables cryptocurrency users to privately retrieve sensitive data such as the balance or the history of their address without disclosing any information to the servers.

“As a leading cryptocurrency technology company, Fressets promises to keep developing proprietary products that maintain security and privacy. By commercializing this technology, we guarantee high privacy and security for enterprise clients,” said Masahiko Hyuga, CEO of Fressets.

Samsung also seemed committed to establishing a user-friendly and secured gateway for numerous clients to penetrate the blockchain and cryptocurrency ecosystem. With that objective they introduced a wallet that seems a convenient and secure crypto-wallet to allow users to self-custody their crypto directly on Samsung Galaxy Phones. By connecting their Samsung Blockchain Wallet to Gemini, users could buy and sell crypto, view their Gemini account balances.

Privacy and security has been crucial aspects that crypto-industry needs to emphasize as the mounting scams and fraudulent incidents involving cryptos has been engulfing prospects of the industry.