‪Google’s New Security System Will Allow Banks to Store and Transfer Crypto and Tokenized Assets

Google Cloud is introducing a service designed to help banks protect cryptocurrencies and tokenized assets without storing a complete private key in any single location. Called Google Multi-Party Compute , the offering was showcased Wednesday at the company’s first symposium dedicated to digital assets. Banks can split a signing key into shares stored in different environments: one on their own hardware, one in Google Cloud, and another with a competing cloud provider. Because no environment holds the full key, a breach of one system cannot grant an attacker control of the assets.