Chrysalis Solution

Patent protected approach

Digital Asset Registry

Authenticate legal ownership, demonstrate provenance of assets, and create a safeguard for any unauthorized movement of funds or assets – Know Your Asset (KYA)

Distressed Digital Asset Market

Owners can decide to sell claim on assets if they become victim of a bankruptcy, hack, theft or key loss, or wait for the recovery

How it Works?

Example – Private Wallet

Step 1

  • John Smith has 100 Bitcoin, which he keeps in a private wallet, but would like some coverage in the event of an adverse event, such as key loss or his wallet being hacked.

Step 2

  • He approaches Chrysalis, pays a subscription to have his ownership registered and his assets verified – Know Your Asset (KYA)
  • A Token is issued to John representing his ownership of the registered assets.

Step 3

  • Johns’ wallet is accessed, and his assets are stolen, he notifies Chrysalis and begins investigation
  • A suspect wallet is identified of where the assets are now located
  • Law Enforcement is notified

Step 4

  • John decides to sell his claim, rather than wait for investigation to conclude for assets to be retrieved
  • John makes his token available for purchase.

Step 5

  • XYZ Investments Inc. acquires John’s Token for agreeable price to both parties
  • Chrysalis receives a commission for handling the sale

Step 6

  • Registry is updated to represent XYZ Investments as legal owner of the assets
  • XYZ Investments assumes John’s subscription to Chrysalis

Example – 3rd Party Custodian

Step 1

  • John Smith has 100 Bitcoin, which he keeps on an exchange called “ABC Exchange”.
  • He is concerned that the exchange may be having financial challenges and would like a digital record of the assets he has at the exchange 

Step 2

  • He approaches Chrysalis, pays a subscription to have his ownership registered and his assets verified – Know Your Asset (KYA)
  • A Token is issued to  John  once the information he provided was confirmed by ABC.

Step 3

  • Johns’ concerns were valid, ABC exchange files for Bankruptcy.
  • John is comforted by the fact that his claim is documented and verified
  • The Legal process begins

Step 4

  • John decides to sell his claim, rather than wait for resolution to the bankruptcy process.
  • John makes his token available for purchase.

Step 5

  • XYZ Investments Inc. acquires John’s Token for agreeable price to both parties
  • Chrysalis receives a commission for handling the sale

Step 6

  • Registry is updated to represent XYZ Investments as legal owner of the assets
  • XYZ Investments assumes John’s subscription to Chrysalis