BitPay has revealed a new partnership with Intel software services. During this week’s Money 20/20 event in Las Vegas, the company announced its Copay users will get hardware-level security with Intel Software Guard Extensions.
BitPay’s Wallet Service Copay Gets An Intel Upgrade
Leading Bitcoin payment processor Bitpay continues its progress in this young industry. The firm told attendees at the Money 20/20 conference that Copay will be the first cryptocurrency wallet with Intel hardware security integration.
BitPay will integrate these services into its bitcoin wallet, Copay: Intel Software Guard Extensions, Identity Protection Technology, and Protected Transaction Display (PTD).
The companies say this will give Copay users secure private key generation and transaction signing.
BitPay explained the software features will give Copay users peace of mind that their data is well protected, even if an “associated computer is compromised.” This also gives users access to the new 7th Generation Intel Core processors.
“Providing user-friendly financial security is one of Bitcoin’s biggest opportunities, and Intel’s silicon-based security helps us move bitcoin closer to the mainstream,” said Stephen Pair, BitPay CEO. “We look forward to releasing this to Copay users in the coming months.”
Intel Delves Into the Cryptocurrency and Blockchain Industry
Intel has had its hands in the blockchain technology realm for quite some time. The multinational corporation has invested in a few distributed ledger projects and is even working on its own protocol.
The Santa Clara, California-based company, announced its latest initiative called “Sawtooth Lake” this past April. With Copay integration the firm will make the wallet an “even safer true bitcoin wallet alternative.”
The software company claims Copay users will be secure from multiple types of security vulnerabilities. This means that businesses who rely on Copay to send high volumes of Bitcoin should welcome the update. Rick Echevarria, vice president of Software and Services Group, and General Manager of the Platforms Security Division at Intel, said during the announcement:
“The decentralized trust which blockchain technology enables has the potential to transform interactions over the Internet, starting with Bitcoin. With blockchain technology and our security and computing assets, Intel hopes to bring decentralized trust to a wide array of asset exchanges over the Internet.”
Over Five Years of BitPay’s Bitcoin Services
Founded in May of 2011 by Tony Gallippi and Stephen Pair, BitPay has grown quite a bit. Since then it has announced many new services and promises more in the near future. The firm also just introduced its partnership with WeFunder, giving everyday people the opportunity to invest in budding startups.
Now with its Intel collaboration, it is beefing up Copay’s security to the hardware level. BitPay hopes to stick around as top provider within the Bitcoin space. This year’s Money 20/20 announcement shows the company is here for the long haul.
What do you think about BitPay’s Copay and its upcoming software integration? Let us know in the comments below.
Images via Shutterstock, Copay, and Intel
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