Why Did We Create KEVLAR?

The Drive Behind KEVLAR

Several compelling reasons motivated the creation of KEVLAR. One of the primary drivers was the exorbitant cost associated with other multi-signature providers. These providers often charge unreasonably high fees, especially for solutions requiring more than three keys. In some cases, the annual cost for accounts with more than three keys is three to five times higher than that of a standard three-key account. While enhanced security and protection for your Bitcoin justify higher costs to some extent, the price increases from these providers seemed excessive.

Financial Accessibility

We wanted to develop a robust solution that is financially accessible to anyone seeking secure Bitcoin storage. KEVLAR offers this without compromising on security or usability. Our goal was to provide a high-value, cost-effective solution for Bitcoin holders.

Ease-of-Use Concerns

Another significant issue with existing multi-signature providers is the reliance on hardware wallets as signing devices. Although this method enhances security by keeping some private keys in an offline or cold state, it introduces complexity. Managing multiple keys to send Bitcoin can be cumbersome and technically challenging.

Personal Experience with Multi-Signature Solutions

Our founder has firsthand experience managing multi-signature setups with hardware keys, securing personal Bitcoin, company Bitcoin, and even Bitcoin for his children. While planning for scenarios where family members might need to access these funds (e.g., in the event of an accident), he encountered numerous obstacles. Attempts to teach family members how to use these systems often failed due to communication errors between hardware wallets and third-party multi-signature providers. These errors required technical troubleshooting beyond the capabilities of most family members.

Additionally, hardware wallet firmware updates added another layer of complexity, necessitating software updates and key re-linking. After multiple failed attempts, it became clear that managing such systems required a technically advanced user. This realization underscored the need for a simpler solution that family members could manage independently, especially in urgent situations.

The Need for a Better Solution

The conclusion was obvious: there must be an easier way. Unfortunately, existing options were inadequate. Users had to choose between insecure hot wallets without multi-signature protection or exchange wallets that depended on third parties to manage ownership. The failures of exchanges like FTX and Mt. Gox highlighted the risks of relying on third parties.

Introducing KEVLAR

KEVLAR emerged as the solution to these problems. It provides self-custody Bitcoin with multi-signature protection without the need for third-party integrations. Our aim was to offer an account for Bitcoin that is self-managed yet as user-friendly as a typical banking app. KEVLAR balances ease-of-use with security effectively, offering a multi-signature wallet that holds encrypted keys on a mobile device, a cloud service, or even an offline old phone. This setup ensures that users, including non-technical individuals, can access and use their Bitcoin securely and efficiently.

With KEVLAR, we strive to make self-custody multi-signature wallets accessible to everyone, providing a secure and easy-to-use solution for Bitcoin holders.