What is Nebbex protocol? And why Nebbex solution?
The Nebbex protocol is a patent pending o ine custodian system that reconciles assets out of a physical vault; DMCC storage vault, using smart contracts, where all assets are in deep cold storage.
Nebbex solution is distinctive in its nature because it is a solution that gathers between security and liquidity. Current storage solutions either o er security using cold wallets or liquidity using hot wallets, however no storage solution combines both. Security breaches happens because of the disconnect between hot and cold wallets as moving assets from exchange platforms to wallets has to pass through the internet at some point.
The Nebbex solution allow those who are insured to store cryptocurren- cies into DMCC storage vault which is a third party insured blockchain managed physical vault. In addition, Nebbex solution has the capacity to serve many users with multiple coin storage. Nebbex solution allows us- ers to make concurrent payments and withdrawals in system, while allows them to make crypto withdrawals within one hour when done outside the ecosystem.
The Burency Solution For Asset Protection and Exchange Integrity
Burency relies on Nebbex’s patent-pending insured solution that integrates third-party exchanges. This enables the exchange’s assets to be insured through Regal Assets, based on an institutional standard digital assets custody solution – as highlighted earlier. The smart contract, blind key generated scalable system stores all digital assets within a centralised third party insured and protected cold vault located in the DMCC, in Dubai, UAE. A strict set of physical and technological security protocols are operationalised each time an asset is to be withdrawn from the vault. This cold vault storage, backed by carefully engineered security protocols, disconnects valuable digital assets from the Internet and makes them inacces- sible to online hacking attempts.
The vault at DMCC – otherwise known as the Dubai Multi Commodities Centre - is one of the most secure precious metal facilities in the world. DMCC is a specialised trade free zone created to o er the physical, nancial and market infrastructure required to establish a global hub for the commodities trade. It was named ‘Global Free Zone of the Year’ 2017 for the third year running by The Financial Times fDi Magazine.
The Nebbex Protocol ends digital asset losses on trading platforms and exchanges due to hacking or breaches. Burency plugs into the NEBBEX legal framework of security, KYC, and AML, and bene ts from an AML closed loop and seamless at
to crypto – and vice versa - transactions through the Nebbex back-end. Burency also relies on Nebbex’s custody solution to store multiple cryptocurrencies at and other assets in a blockchain-managed, third-party insured blockchain vault.
