CoinPlus joins #LePlateauLUX
Societe Generale Luxembourg is pleased to announce the arrival of start-up CoinPlus in its open innovation laboratory #LePlateauLUX.
#LePlateauLUX is Societe Generale Luxembourg’s innovation lab, which aims to accelerate innovation and the development of start-ups in Luxembourg. Its main objective is to improve our agility in managing innovative projects to better respond to our customers’ needs. Internal project leaders and external start-ups work in the same environment to create synergies. External start-ups, focused mainly on the artificial intelligence (AI), data, blockchain and cybersecurity sectors, are selected on the basis of the technologies used, interest in the Luxembourg financial market and possible applications for the industry. Four start-ups are currently hosted there: Lybero.net, Golem.ai, ThinkSense.ai and CoinPlus.
CoinPlus is a Luxembourgish start-up created in 2014. CoinPlus has developed a unique solution to secure the generation of private keys on a physical medium to respond to the growing need for security driven by the development of cryptocurrencies, digital assets, and its associated risks.
In 2017, after 3 years of Research & Development, the start-up filed an initial patent that describes how access codes are being secured on any physical support.
The principle behind it: two companies independently engrave and secure two partial private keys on a single physical support. The exchange of public information relating to these partial private keys enables the both companies to generate a public address without knowing the private key of the other company. Thus, only final users are in possession of the two guarantee codes of their private key, enabling them to conduct transactions and have access to their assets.
In Spring 2019, CoinPlus got together with Forge Capital Market, an internal start-up of the Societe Generale group, to help them address their stakeholder in the primary market while issuing bonds in tokens.
In 2020, Coinplus is expanding by addressing several verticals such as identity and access management, banking non-custodial solutions and retail industry.