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Cryptobank | cryp·to·bank [krip-tog-bangk]

Manifesto first appearance:


A cryptobank is an on-line service for storing crypto currencies (such as bitcoins and litecoins) and has these properties:


1. facilitates usage of crypto-currency: sending, receiving amounts

2. provable reserves auditable in the public peer-to-peer network (e.g.: Bitcoins Blockchain)

3. takes responsibility for the security and confidentiality of the funds under deposit

4. provides a level of security far beyond what typical consumers can achieve on desktop computers, such as the use of Hardware security module (HSM)

5. more than one account per person (like Chequing, Savings, etc.)

6. comparable to a "Web Wallet" but professionally run at larger scale.

word origin

2013; crypto- + -bank

1150–1200; Middle English banke, Old English hōbanca couch; cognate with Old Norse bakki elevation, hill, Swedish backe, Danish bakke < Germanic *bank-ōn-; perhaps akin to Sanskrit bhañj- bend, Lithuanian bangà wave; see bank3 , bench

1945–50; probably independent use of crypto-; cf. -o