London Inc Magazine
We've all got things to hide: Christmas gifts, documents, rare coins, the spare house key. So, we all need a place to stash them: the attic, locked desk drawer, safety deposit box, fake landscaping stone.
When the thing you’re trying to protect is digital, it gets a little tricky. Maybe you’ve noticed passwords are hacked every day, chipping away at cyber security with every breach. And if you’ve put anything into bitcoins, well, where do you keep them?
These are some of the quandaries the deep thinkers at VersaBank have addressed with the company’s newest product, VersaVault. It is the digital equivalent of a safety deposit box, designed to provide digital safekeeping for cryptocurrency exchanges and crypto-based investment funds.
“This is how the market is evolving,” says VersaBank president, David Taylor. “There’s a need for a digital storage facility.”
To make it happen, VersaBank hired Gurpreet Sahota as chief architect of cyber security, a job he held for 14 years at BlackBerry Ltd, long viewed as a world leader in security and encryption. And then it unleashed its IT team, in the bank’s Innovation Centre, housed in a converted hangar at the airport.