From your website, I was looking at the recovery process
Once the new HASHWallet has been initialized, we perform the recovery process by loading our Recovery Seed from the Seed Card and the Recovery Key from the custody service or from our own source.
Can you explain what this "custody service" is? and/or "your own source"?
"If I lose my HASHWallet, how can I get my public and private keys back?"
HASHWallet comes with two additional cards named Smart Seed Cards. When the device is first initialized, it will pair with the seed cards via NFC, so these will store a Recovery Seed. Also, during this set-up process the card will generate a Recovery Key, which will be stored on the eSignus Vault. In case of losing the device, simply purchase a new HASHWallet and recover the keys from one of the Seed cards and the Recovery Key.
"If eSignus disappears, how do I access my Recovery Key?"
In the rare event that eSignus ceases to operate, there would be a period where HASHWallet users could download their Recovery Key and store it by themselves.
Is the end user not actually in control of the recovery key?
Honestly, that seems like a bit of a deal breaker to me...
Hey HCP, As mentioned on the webpage, the recovery system is built with two different items, a recovery seed, and a recovery key. The recovery seed is stored in an NFC card (you can save more than one card), and for the recovery key, you can choose either to store yourself the recovery key or to send the recovery key to our vault, where we will store it for you. We will have secure storage for all the customers that want to store their recovery keys. You are always in control of your recovery items.
You will be able to access your recovery keys whenever you want, they are your recovery keys. In the rare case we cease operations, you will be able to access them or we will find a way to send them to you.
In all honestly that explanation sounds like a fancy and technical way to explain that users have no control of their private keys.
The OP mentions that the keys are not based on any seed but from the quotes, HCP pulled "recovery seeds" and "seed cards" are stored with at least 2 different parties.
What are we supposed to do with the "Recovery Keys" in case you cease your operations?
Hey Pmalek, You can store them for yourself. Remember that if someone has access to them, they can't do anything with the recovery keys. They will need to access physically your recovery seed to recover your wallet.
The recovery key should be stored on another NFC card instead of a third-party vault. Don't add an additional point of failure and let people be their own bank.
Hey joniboini, You always can store the recovery items for yourself without the need for our vault service. The option of giving the user the opportunity to store the recovery key in another NFC card is something we are thinking about.