Hybrid control of digital asset private keys
An embodiment provides for private key management for digital assets. A method provides a hosted digital wallet that mirrors at least a portion of data of a user digital wallet. The hosted digital wallet includes first data indicative of a first portion of a private key. The hosted digital wallet is associated with a smart contract storing second data indicative of at least the remainder of the private key that is not the first portion of the private key stored in the hosted digital wallet. It is determined that the user digital wallet is not compliant with condition(s) specified via the smart contract, and the data indicative of the second portion of the private key is obtained from the smart contract, recovering the private key using the first data and second data.
1. A method, comprising:
providing, using a set of one or more processors, a hosted digital wallet that mirrors at least a portion of data of a user digital wallet, the hosted digital wallet comprising first data indicative of a first portion of a private key;
associating, using the set of one or more processors, the hosted digital wallet with a smart contract storing second data indicative of at least a remainder of the private key that is not the first portion of the private key stored in the hosted digital wallet;
determining, using the set of one or more processors, that the user digital wallet is not compliant with one or more predetermined conditions specified via the smart contract;
obtaining, using the set of one or more processors, the second data indicative of at least the remainder of the private key from the smart contract; and
recovering, using the set of one or more processors, the private key using the first data and second data.
2. The method of claim 1 , wherein the recovering is performed after an expiration time of the smart contract.
3. The method of claim 1 , comprising providing data to the hosted digital wallet indicating a request to use one or more second assets prior to an expiration time of the smart contract associated with one or more first assets of the user digital wallet.
4. The method of claim 3 , comprising, providing the one or more second assets prior to the expiration time of the smart contract.
5. The method of claim 4 , wherein the one or more first assets and the one or more second assets are different asset types.
6. The method of claim 5 , wherein the one or more first assets are data proving ownership of a type of cryptocurrency.
7. The method of claim 4 , comprising recovering the one or more first assets into the hosted digital wallet after the expiration time of the smart contract.
8. The method of claim 1 , wherein the determining that the user digital wallet is not compliant with one or more predetermined conditions specified via the smart contract comprises determining that a predefined communication is not received.
9. The method of claim 8 , wherein the determining that a predefined communication is not received indicates the user digital wallet is inaccessible.
10. The method of claim 1 , wherein the user digital wallet is inaccessible due to an inability to obtain a copy of the private key.
11. A system, comprising:
a set of one or more processors; and
a non-transitory storge device comprising code executable by the set of one or more processors, the code being configurable for:
providing a hosted digital wallet that mirrors at least a portion of data of a user digital wallet, the hosted digital wallet comprising first data indicative of a first portion of a private key;
associating, using the set of one or more processors, the hosted digital wallet with a smart contract storing second data indicative of at least a remainder of the private key that is not the first portion of the private key stored in the hosted digital wallet;
determining, using the set of one or more processors, that the user digital wallet is not compliant with one or more predetermined conditions specified via the smart contract;
obtaining, using the set of one or more processors, the second data indicative of at least the remainder of the private key from the smart contract; and
recovering, using the set of one or more processors, the private key using the first data and second data.
12. The system of claim 1 , wherein recovering of the private key is performed after an expiration time of the smart contract.
13. The system of claim 11 , wherein the code is configurable for providing data to the hosted digital wallet indicating a request to use one or more second assets prior to an expiration time of the smart contract associated with one or more first assets of the user digital wallet.
14. The system of claim 13 , wherein the code is configurable for providing the one or more second assets prior to the expiration time of the smart contract.
15. The system of claim 14 , wherein the one or more first assets and the one or more second assets are different asset types.
16. The system of claim 15 , wherein the one or more first assets are data proving ownership of a type of cryptocurrency.
17. The system of claim 14 , wherein the code is configurable for recovering the one or more first assets into the hosted digital wallet after the expiration time of the smart contract.
18. The system of claim 11 , wherein the code configurable for determining that the user digital wallet is not compliant with one or more predetermined conditions specified via the smart contract comprises code configurable to determine that a predefined communication is not received.
19. The system of claim 18 , wherein the code configurable to determine that a predefined communication is not received indicates the user digital wallet is inaccessible.
20. A computer program product, comprising:
a non-transitory medium comprising code executable by a set of one or more processors, the code being configurable for:
providing, using a set of one or more processors, a hosted digital wallet that mirrors at least a portion of data of a user digital wallet, the hosted digital wallet comprising first data indicative of a first portion of a private key;
associating, using the set of one or more processors, the hosted digital wallet with a smart contract storing second data indicative of at least a remainder of the private key that is not the first portion of the private key stored in the hosted digital wallet;
determining, using the set of one or more processors, that the user digital wallet is not compliant with one or more predetermined conditions specified via the smart contract;
obtaining, using the set of one or more processors, the second data indicative of at least the remainder of the private key from the smart contract; and
recovering, using the set of one or more processors, the private key using the first data and second data.