- Adam.m
- 2023-04-14
Jean-Charles Chemin, le président de Legapass a eu la chance de passer dans le Podcast from NFT Morning.
Avec l’équipe, on vous a compilé cet échange d’une heure en moins de 5 minutes of reading. Une expérience hyper enrichissante pour notre CEO qui a pu échanger avec Rémi et présenter Legapass.
Ready to go? Here we go! 😊🔥
Rémi (NFT Morning): Can you tell us a little bit more about yourself?
Jean-Charles (CEO) : I have been in the world of tech start-ups. I have worked as a developer and also as a technical director at Qwant, the French search engine.
I like to do a lot of things (laughs) but it's true that Legapass concentrates a good part of my energy.
Rémi (NFT Morning): Tell us a little about the genesis of the project.
Jean-Charles (CEO): The Legapass solution was born following the loss of my partner's father during the Covid. He was hospitalized for a long time and in the meantime, he may have left the family with passwords, memories.
At that point, I thought, "Damn, if something happens to me, what will happen to my digital accounts ?”
I started doing research with Adelina, co-founder of Legapass. I came to the conclusion that everything my digital assets must be preserved if something happens to me.
Especially when you think about it, there are plenty of other assets to protect: banks, neo-banks, password managers, access to the cloud for photos,...
Then I got into the cryptocurrency business and there it was an absolute vacuum. I looked for a solution that I didn't find.
One evening, during a dinner with Eric Maida, the third co-founder of Legapass, we thought about the problem. Very quickly, we designed a first prototype. From there, the Legapass solution was born.
➡️ The startup is now over 1 year old with a first fundraising of 1M€. announced in December 2022.
Rémi (NFT Morning): From there, you realized that there were many uses?
Jean-Charles (CEO): For me, notaries do not necessarily have an easy solution to offer today in terms of digital transmission.
➡️ How to entrust digital data and be sure that they do not circulate and especially that they are not lost or hacked?
Examples of accounts to protect with Legapass
Cryptocurrencies
Neo-banks
Photos & Videos
Remi (NFT Morning): If I'm the only one who knows where my seed phrase is, I can quickly get into trouble.
Jean-Charles (CEO): Yes, and this is true for typical portfolios (hot wallet) as Metamask or for a Ledger key. It will require a pin code to unlock access. There will always be a trust issue.
In our lives, many things happen, we move, our environment changes, but our information accumulates.
➡️ With Legapass, people don't have to worry about the security part. It's like a safe deposit boxI register, I deposit my access codes and my secrets and then they are sent to a secure safe awaiting their return.
Rémi (NFT Morning): How exactly does Legapass work?
Jean-Charles (CEO): I will not go into technical details (unless there are experts listening). To put it simply, Legapass is a combination of high-level encryption and offline storage.
➡️ How does Legapass work? You register, you arrive on your dashboard, you enter your secret, it is encrypted immediately. It will not go through the internet. It is moved to a temporary storage server. Then, our technology will suck it up and pass it through a dozen security steps to send it to your offline vault.
Inside, there are standard disks with hardware encryption. It is important to know that to maintain such a high level of security, we work with competent people from the CNRS. All precautions are taken so that no one has access to the data except your beneficiary at the time of return.
Why Legapass is 100% secure 🔐
Rémi (NFT Morning): How is the restitution going?
Jean-Charles (CEO): We keep an encrypted copy of the accesses you leave on the Legapass platform and we work with French bailiffs for the last step of the process, the restitution.
There is always a human verification to confirm the identity of the beneficiary and then we notify the bailiff so that he can send the unlocking key to him. In turn, Legapass sends him the encrypted files.
Rémi (NFT Morning) : In crypto-currencies, we are a bit left to ourselves, there is a reassuring side.
Jean-Charles (CEO): In 9 cases out of 10, the error is human indeed: negligence, abuse...
We work daily to maintain the best standards in the market.
Our operation includes a notion of beneficiary clause which is very important. This means that we can quickly find the user's default beneficiary and, if necessary, trusted contacts to contact in order to ensure the transmission of the safe deposit box. The idea is to be able to quickly go through the chain of beneficiaries / trusted contacts.
Rémi (NFT Morning): Where are you today, is your solution working?
Jean-Charles (CEO): The solution is fully operational. We've been focusing a lot on the invisible part of the iceberg: the security of our system and now we're working on the visible part to produce a simple and fluid user experience.
We want to accompany the user and reassure him/her about the use of our service. We raised 1 million euros to accelerate, to recruit. We are also improving our processes and yes of course regarding security, we are on the cutting edge of technology.
➡️ We have a Bug Bounty program at YesWeHacka European leader in cybersecurity, which allows us to stay on top of things.
Rémi (NFT Morning): So I can go to Legapass and register?
Jean-Charles (CEO): Of course, I'm surprised you haven't done it yet (laughs).
Today, we have 2 offers:
➡️ a free offer with payment on return;
➡️ a Premium offer with an annual fee.
It works a bit like the life insurance model with no additional charge and additional features such as express return.
When you register, you enter your personal information and you will be guided step by step on the accesses to secure: your mobile unlocking code, computer, crypto,...
Rémi (NFT Morning): How does Legapass compare to Inerity and Safe Haven?
Jean-Charles (CEO): Often the solution is online and this increases the risk of losing the data. In addition, when it is decentralized, a target portfolio will usually be named.
The problem in this situation is to verify the dead state and then to know who can unlock the data. Then there is the Multisig signature which can change over time. For example: I have 5 key people, I need 3 to unlock a portfolio. But in life, for an individual, it's complicated.
➡️ On Inerity or Safe Haven, you have blockchain storage, you are not offline, so there is a risk. It can be attacked more easily by quantum technology in particular which will make it easier to break the encryption.
Rémi (NFT Morning): Even for you, it's a race to Technology?
Jean-Charles (CEO): We have taken the lead, the data we are recording today, it will be able to evolve and take 4.5 additional cryptographic levels to adapt to technological evolutions.
➡️ Concerning traceability, we are thinking about subjects to be able to trace on the blockchain, the integrity of the data that we will restore.
Rémi (NFT Morning): If something happens to me, serious accident (except death) how are you notified?
Jean-Charles (CEO): We have several mechanisms, it can be the notariesWe are in the process of getting closer to them to facilitate communication. There are also the life insurance with which we are in contact.
➡️ Legapass users are encouraged to nominate trusted contacts who may be able to alert us in this type of situation. Since they are alerted of their appointment on the service.
Rémi (NFT Morning): What happens if Legapass disappears?
Jean-Charles (CEO): No one is safe. Of course, we have thought about this situation.
If the judicial liquidation is decided, a 30-day period will start during which the user will be contacted regularly by email and other available means (trusted contact, telephone).
➡️ Next, all data will be destroyed to preserve the privacy of our users.
Rémi (NFT Morning): Can you guarantee the non-seizable side with the current regulations (MICA, etc...)?
Jean-Charles (CEO): We position ourselves as a technical means, we never have access to information. We don't know what you are entrusting us with.
The law may oblige us to transmit an encrypted data in certain extreme cases, but we can say that we don't have the means to decipher itwhich is true. And that's where it ends, we've already had this happen on other projects.
➡️ In addition, I would like to remind you that we have a well-defined restitution process that involves a bailiff who has the famous decryption key.
Rémi (NFT Morning) : Thank you for your intervention Jean-Charles.
Jean-Charles (CEO) : Thank you. See you soon 🛡️
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