“A Bitcoin storage service that insures deposits of the digital currency against loss and theft has launched in London. Elliptic Vault uses ‘deep cold storage’, where private encrypted keys to bitcoins are stored on offline servers and in a secure location. The facility’s founders say they are the ‘first in the world’ to offer insurance for Bitcoin owners. The company is underwritten by Lloyd’s of London, which will give people ‘more faith in the Bitcoin system’, according to Emily Spaven, managing editor of CoinDesk, a digital currency news site. Insurance payouts will be calculated using the Bitcoin to US dollar exchange rate at the time a claim is made.”
http://www.bbc.co.uk/news/technology-25680016
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