“Despite the stories of fraud and hacking that drag on cryptocurrency’s reputation, the greatest threat to financial security is if the user makes a mistake because the system is too complicated.”

What are the secrets to keeping a mass audience safe, confident and comfortable in the world of cryptocurrency?

Introducing any form of digital finance to a new audience presents a number of potholes that require both good design and smart technology to avoid. Making it rigorously secure yet still straightforward and engaging is right up there at the top.

Complex systems that are confusing to use present a double problem. They deter people from trying a service that could be valuable to them, and they open up less experienced users to risks from their own errors.

Despite the stories of fraud and hacking that drag on cryptocurrency’s reputation, perhaps the greatest threat to financial security is if the user makes a mistake because the system is too complicated to follow easily — by sending funds to the wrong address, for example.

Mass adoption requires a solution that just works — the Apple approach of intuitive control for everyone rather than the Linux route of building for enthusiasts who like to tinker under the hood.

Which is why we think one of the best security advantages Pigzbe offers is not some exotic technology, but its belief in simplicity at every point of the experience. Easy to understand, easy to use, easy to remember.

1) Be simple — it helps people

“Cryptocurrency can be a daunting prospect for someone migrating from the relatively safe world of high street banking,” acknowledges co-founder and Head of Hardware Engineering, Hugo Shelley, “and this is an area where Pigzbe stands to make a significant impact. We can educate and demystify in a safe environment, while reducing the possibility of error.”

“We’re creating a system that has very little compromise and follows all the standards of security expected from enthusiast-level products, yet is still approachable and easy to use.”

“So far, not many people have had the mandate to go out and design a cryptocurrency product that grandmothers can use,” says Pigzbe CTO Cat le Huy, “but that’s a key part of our mission. We’re not talking about the crypto-enthusiasts, but about mothers and fathers, children, grandparents, uncles, aunts… For them we need to reduce the chance of user error so they remain safe as they start to explore this crypto world.”

2) Be transparent — it secures the future

Another major component in Pigzbe’s security strategy is openness. The hardware is built around a single system-on-chip, with open-source code used throughout. We’ve concluded that security through transparency — making the code freely available for the blockchain community to audit — offers a more versatile and long-term future.

3) Use robust technology — but stay conscious of what people want

Clearly beneath that strategy there needs to be a foundation of tried and tested secure technology and best practice. Which is why…

• Both the Pigzbe Black and Pink editions feature a secure bootloader so only authentic Pigzbe firmware can run on the device.

• The flash memory is fully encrypted using AES-256 and the encryption key is protected from software access.

• A 4–9 digit PIN will prevent unauthorised use, with physical access to the hardware prevented by an ultrasonically welded enclosure.

• The future is mobile and wireless. It’s the answer our audience wants. Pigzbe takes advantage of the latest features of Bluetooth 4.2 to ensure a secure connection, while ensuring that at no point do the user’s private keys leave the safety of the device itself.

4) Choose your network wisely

Pigzbe’s transactions will be handled by the Stellar decentralised payment network. Its reputation for openness, simplicity, speed and affordability dovetail perfectly with Pigzbe’s own product ideologies.

“Choosing the Stellar network has given us a number of quite wonderful advantages,” affirms Cat Le Huy. “It’s a fantastically stable network for a start. And unlike a lot of other crypto and blockchain networks, it has a commercial imperative behind it, and that means it’s going to be around for a while. It’s not a ‘designed-by-committee’ technology, at the whim of the broader blockchain community, that could be gone tomorrow if they lose interest in it.”

5) Address the risk ‘hotspots’ and make them easy to fix

One of the biggest worries that plays on the minds of those new to cryptocurrency is losing or forgetting their private keys or recovery words, and therefore losing all the tokens they’ve accumulated.

There are already a number of cold storage wallets on the market to fulfil this need, so for Pigzbe to just design another isn’t particularly helpful, argues Cat le Huy.

“Instead we’ve started from the position of creating a ‘super useable’ version. It has to be secure, but also simplify the complexity associated with cryptocurrencies and therefore reduce the risk of user error and increase safety. That cannot be solved by design or technology alone. Only the perfect marriage of the two has enabled us to make it happen.”

6) Deliver knowledge — it’s the ultimate safety measure

Finally, there is one essential security tool that Pigzbe can place in the hands of its community. It’s a tool very few blockchain products can deliver to the same degree — knowledge. “Cryptocurrency can be a steep learning curve,” confesses Hugo Shelley. “It’s important to maintain an appropriate level of caution and not just dive in without knowing what you’re getting yourself into.” Pigzbe’s economy of microtransactions is the perfect way to practise and prepare for the world of cryptocurrency.

“We recognise that becoming familiar with a new system takes time, and that’s why we’ve focused so much on providing engaging content within Pigzbe. It helps people take small steps, work at their own pace, build confidence over time, and learn lessons that stick with them.”

“Those lessons will shape the behaviours that will keep them safe and their digital finances secure in a world about to change dramatically.”