2-Factor Key Generation

What it is

For the private key generation and production of our physical wallets, Ballet adopts an industry-first 2-Factor Key Generation (2FKG) process. To access the funds in your wallet, you would need both the encrypted private key (EPK) and the corresponding wallet passphrase. However, both the EPK and wallet passphrase are engraved on the Ballet cryptocurrency wallet itself. The proven BIP 38 industry standard powers this time-tested and secure technology.

How it is produced

During the manufacturing and production process, these two vital components are generated separately, on different devices located in different geographic locations (different countries and jurisdictions, thousands of miles apart). This data is never transferred electronically, and never copied, duplicated, or backed up onto any other storage device. This also means that our employees will never come into contact with all of the necessary cryptographic key information. Thus the capability of others decrypting or stealing funds from the Ballet physical wallets is eliminated.

How the encryption works

Physical separation ensures these two sets of critical encryption data will never ever come together on the same storage device or computer system. In fact, during the key generation and product manufacturing process, this data is never electronically combined together. Only on the physical wallet itself will ever come together for the first time in a physical form. This will happen when the wallet passphrase is laser etched onto the wallet next to the QR code sticker, which already contains the printed form of the encrypted private key. Thus your actual wallet key decryption is virgin, and it will never have been decrypted.

Send your cryptocurrency by decrypting your wallet private key:
  • 1. Scratch off to reveal the wallet passphrase.
  • 2. Peel off the top layer QR code sticker.
  • 3. Use the Ballet Crypto mobile app to send funds. (You can also use any other BIP38 compatible software to extract the private keys to access your funds.)

Our QA process

To ensure that each wallet can be decoded properly, we use BIP 38 verification technology to verify and check the confirmation code data for every wallet that we manufacture. To increase our assurance, we will also spot check wallets during the QA process by physically opening a wallet to extract the two secret components, and test the electronic decryption.

Our guarantee

We are the first company to implement this patent pending 2FKG manufacturing process for non-electronic physical wallets. It is a multinational, double-blind, bifurcated key generation process that ensures the highest safety standards for private key generation and encryption. This is the ultimate level of safety for the complete offline and cold storage of your cryptocurrency assets. The groundbreaking 2FKG production process ensures that the confidential and critical private key data will never be comprised during the hardware manufacturing process, giving you a much deserved peace of mind.

Detailed Manufacturing Process

in USAin China
timeline
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1. Using an offline computer, serial number, wallet passphrase, and intermediate code are generated in Ballet’s USA headquarters
2. Serial number and intermediate code are then electronically transmitted to Ballet’s office in China.
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3. Afterwards, the BIP38 process is used to randomly generate an encrypted private key (EPK) using the intermediate code data.
  • The corresponding public key and coin addresses will be generated, along with a confirmation code, to be used for verification and additional checking afterwards.
  • This encrypted private key is secure data, which is only stored once, on a hard disk drive.
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In China, this two-layer QR code sticker is manufactured using an offline process in a secure printing facility
  • The secure data is never transmitted to any external computers or system.
  • The secure data is transferred physically, on a hard disk drive.
  • Right after the printing process, the secure data is then deleted, overwritten, and physically destroyed.
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The secure two-layer QR code sticker will then be securely applied to the physical wallets, without ever revealing the encrypted private keys.
  • Once finished, the partially assembled wallets are sent to the United States for final production.
  • The confirmation codes are also electronically sent back to the United States.
  • This is for further verification to ensure that the encrypted private keys and decryption wallet passphrase does match up with the generated cryptocurrency coin addresses.
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The physical wallets and QR code stickers are verified and double checked in the United States according to their corresponding serial numbers.
  • The matching decryption wallet passphrase and serial number will then be laser etched onto the wallets.
  • A strip of tamper evident scratch-off material is then applied on the wallet, to cover the wallet passphrase.
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