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Crypto-assets rely on fixed public/private key algorithms, which are resting targets for advanced cryptanalysis. BitMint's BitMint*LeVeL protocol allows each holder to pick their own public/private key algorithm, so that an attacker would have to compromise all the algorithms used by all previous coin owners - a substantial security upgrade relative to existing crypto-assets. LeVeL can be applied to crypto-assets and fiat currency to effectively serve as a claim check. BitMint*LeVeL can achieve decentralization via BitMint's InterMint: Money is minted by many smoothly interchangeable mints competing for traders.

Back in 2013 BitMint has formed a strategic partnership with Munich-based Giesecke & Devrient GmbH, a company that prints the national currencies of 150 countries as well as develops products and technology for the payment, secure communications, and identity-management sectors.

Identity-bearing digital money can be paid in a private transaction between payor and payee without reliance on network authentication. The payee must trust that the paid digital coin is bona fide. Presenting a hard wallet (HW) to generate the required trust. Payment issued from the HW can be taken in by a second hard wallet, which will further pay to a third hard wallet, creating a payment ecology of digital money for long periods without the benefit of a communication network. Payment may be tethered to eventual terms of redemption. The hard wallet may be personalized -- fitted with ownership security capability. The HW may be engineered in conjunction with a smart phone, so people can use a single device as a phone and as an off-line wallet.

The Bank for International Settlements (BIS) and Bank Indonesia announced the 21 shortlisted finalists for the G20 TechSprint CBDC challenge. The shortlisted teams now have until the end of August to complete their prototypes, which will then be judged by an independent expert panel convened by Bank Indonesia. Winners for each of the three categories will be announced in October ahead of the G20 Summit. Among the shortlisted were BitMint, R3, Ripple, S.e.A. (Stellar, eCurrency and ANZ), Bitt-IDEMIA, Crunchfish, and Giesecke+Devrient (G+D) Filia.

Central banks need to realise that it is impossible to prevent distribution of counterfeit coins that are transacted in an offline mode when a cryptographic dialogue is carried out between payer and payee. This vulnerability relates to most known secure elements/devices, stored-value cards, universal access devices and Tamper Resistant Elements (TRE), such as smart cards, SIM cards, embedded secure elements and so on, that are already being tested for offline clearing and final settlement capabilities. It derives from realizing that any cryptographic dialogue that convinces a payee offline may be emulated by a resourceful counterfeiter. If you wish to execute payments between two parties in offline mode when there is no internet connection, with no risk of counterfeit money to be distributed by adversaries, you need to have a physical procedure (not cryptographic) that enables a fast, instant, simple and secure (up to being quantum-safe) validation process and payment transaction, with finality of payment.