Darin Stanchfield believes the future of bitcoin depends on security. The crypto-currency has a lot of potential, he says, but only if it can be reliably protected from cyber attacks. That’s why he created KeepKey, a device to protect bitcoins from theft.
“When people first learn about Bitcoin, it is usually from stories involving theft,” said Stanchfield. “Handling digital currencies requires near-perfect security, which is hard for most engineers let alone regular consumers.”
Stanchfield founded the Kirkland, Wash. startup in 2014 after Mt. Gox, the world’s largest bitcoin exchange, lost $600 million worth of customers’ bitcoins due to hacking.
In May, KeepKey acquired the software wallet company MultiBit and in August the company made an integration deal with ShapeShift to allow customers to securely swap bitcoins on the KeepKey device.
“That decision has led to many doors opening for us and new customers for our services,” said Stanchfield.
GeekWire caught up with Stanchfield for this installment of Startup Spotlight, a regular GeekWire feature. Continue reading for his answers to our questionnaire.