The interview was conducted on the DAPS official Telegram group on the 23rd of April 2020. We thank Dr Woody Cheng for taking the time to have a conversation with us.
Woody Cheng, [23.04.20 18:06]
Hello, everyone. I am Woody Cheng. Currently, I am in charge of Chief Creative Officer and head of business development of SecuX. My main works at SecuX is to explore the future of blockchain and build up the strategic partnership with any crypto communities. Also, SecuX designs the hardware wallets and Point-of-sales terminal (PoS) for the cryptocurrency storage and payment, respectively. Hence, I find out the partnership with wallet resellers or payment service companies as well.
Woody Cheng, [23.04.20 18:09]
Answer 1A: Blockchain and cryptocurrency are the future of money. Last few years, some crypto exchanges were hacked online. Crypto investors lost huge value of cryptocurrency. That is why SecuX startup.
Answer 1B: We are based in Taiwan. We are experts in designing hardware products. From the beginning of our mind, SecuX aims to design hardware wallets met the ideas of super security and super easy to use.
Woody Cheng, [23.04.20 18:15]
Answer 2: DAPS means decentralized-anonymous-payment-system. DAPS foundation very focuses on user’s privacy. SecuX are pleasure to be the first partner of hardware wallet with DASP. Since it is the first time to integrate an anonymous blockchain into a super security hardware wallet, it takes much time to discuss the detail spec. for ensuring user’s privacy and security at the same time. So, the hardest part is not about programming but the anonymous and security concepts.
Woody Cheng, [23.04.20 18:20]
Answer 3A: SecuX emphasis on security with super user-friendly interface. SecuX wallets are with build-in a Military-grade Secure Chip (CCEAL 5+) to protect the attack from any hackers.
Answer 3B: SecuX owns three models of hardware wallets, SecuX V20, W20 and W10. All models are designed with a 2.8’ touch screen for easy to use. For user mobility, SecuX W20 and V20 supports Bluetooth connection to your mobile phone. Hence, our users can safely make a transaction at anytime and anywhere.
Answer 3C: This year, we launched the world’s first Point-of-sales terminal integrated with hardware wallet. It is a unique crypto solution in the world. In this solution, we can ensure the connections with crypto payment and storage.
Woody Cheng, [23.04.20 18:31]
Answer 4: SecuX PoS terminals are Bluetooth PoS without internet access. So, it is very useful for street vendors in an offline scenario. Currently, our terminals are used in the vendors of night market in Taiwan. We are seeking the partnership of payment service companies around the world.
Woody Cheng, [23.04.20 18:39]
Answer 5: Sure. We are willing to design DAPS into SecuX POS function.
Woody Cheng, [23.04.20 18:42]
Answer 6: We follow the standard of BIP 39 and BIP 44 for crypto wallets. When user actives SecuX wallets at the first time, he/she should write down 24 words to a data sheet. Once SecuX wallet gets damaged, users can recovery their coins from a new SecuX wallet or other software wallets after input the 24 words.
Woody Cheng, [23.04.20 18:51]
Answer 7: SecuX are willing to provide an SDK and share our experience so that DAPS team can own mobile and web wallets soon.
Woody Cheng, [23.04.20 18:55]
Answer 8: We do not sell POS terminals to single merchant. We target B2B business, and sell POS to local payment service providers. Then, payment service providers decide the setup cost and monthly fees.
Woody Cheng, [23.04.20 19:02]
Answer 9: SecuX designs an iOS APP ‘SecuX Mobile’ and Web-based wallet “SecuXcess” for our users. Users simply refresh their web pages or app pages to get the up-to-date data from blockchain. Our hardware wallet do not need a constant internet connections via a SIM card. Our hardware wallets via Bluetooth connect with user’s online phone or online PC.
Woody Cheng, [23.04.20 19:06]
Answer 10: No, it cannot. For the highest level of protection for your coins, the wallet.dat is only generated and stored in secure element, which cannot be extracted it out.
Community Questions and Answers
daps_spain 🇪🇸, [23.04.20 18:59]
Q:What are the transaction times with your POS system?
Woody Cheng, [23.04.20 19:01]
[In reply to daps_spain 🇪🇸]
It depends on which cryptocurrency or blockchain you pay
Genesis Simbiont, [23.04.20 18:47]
Question.Genesis2: Could I connect the wallet to woocommerce or similar ecommerce system for my online sales?
Woody Cheng, [23.04.20 18:48]
[In reply to Genesis Simbiont]
Now, we only provide solution for physical merchants.
mr Mooning, [23.04.20 18:45]
Q: Can I use the same wallet.dat as my desktop version? Or recover with the same 24 words as my desktop version? So when I stake at my laptop the amount of coins automatically increase when I open my daps wallet on my secux?
Spock, [23.04.20 19:08]
[In reply to Woody Cheng]
So to give a bit more detail:
A desktop wallet.dat file will not work with a hardware wallet.
But if we look at what is in a wallet.dat file, the main component is the private keys.
The private keys are your keys to your coins on the chain.
What you can do is use your 24 word seed phrase (recovery phrase) to restore your keys onto the hardware wallet and thus have the keys in 2 places at once.
But you cannot transfer the hardware wallet data to the desktop wallet and vice versa.
QuadraTee Matt Howard, [23.04.20 18:22]
These military grade chips, what do they do? Are they part of the wallets encryption system?
Woody Cheng, [23.04.20 18:28]
[In reply to QuadraTee Matt Howard]
The military-grade chip is not a part of wallets of blockchain. We embed into SecuX wallet to protect user’s private key.
Nelson, [23.04.20 19:20]
On last Q from me sir✋..
About the software updates …does that include DAPS SDK too?
Woody Cheng, [23.04.20 19:23]
ha! I mean if the SDK for connecting with wallet that we provide to DAPS, we will be in charge of updating.
Jan NL, [23.04.20 19:15]
How about the code for development, is it open source. can daps devs read it, and work with it?
Woody Cheng, [23.04.20 19:19]
[In reply to Jan NL]
Plan to do that from software code. Some hardware code will not open since SE security policy.