Fintech Security Innovation: Ghost Wallet Payment System by Starcave Global
Hong Kong-based Starcave Global owns the patent to the Color Code Security Technology that powers the Ghost Wallet
By: The Soho Loft Media Group for Starcave Global Ltd
Starcave Global owns the patent to the Color Code Security Technology which can ensure the security of our credit cards and debit cards at higher levels with the use of almost infinite color combinations made possible through the Color Grid.
Watch the full interview here: https://digitalinnovators.tv/
Harrison Park, Starcave Global's founder and chairman, was inspired by God's gift of light. Chairman Harrison Park shared that the origin of the company names Starlion and Starlight, both companies owned by Starcave Global, came from the Bible - with "Starlight" coming from the light given by God and "Starlion" gives a very strong feeling from the Lion which has always been a symbol used to represent God. "For the last twenty years, I have been building a famous portal in Korea and also messenger services. By using these types of technology, I came up with the new matrix which is color code," added Chairman Harrison Park.
Hackers are already savvy with the binary code system represented by the series of 1's and 0's and in order to improve security, there is a need to shift to a new paradigm. The StarcaveGlobal team led by Chairman Harrison Park had an epiphany - the next best thing to the number-based system is a color-based system.
"When you look into this space, security is one of the biggest problems. We are thinking of how we can actually solve this problem of protecting your own credit card when doing online payments," said StarcaveGlobal Director Eddy Kim. He explained that founder and chairman Park discovered that color can represent many individual numbers and alphanumeric codes.
Starcave Global CEO Ted Ko has been with the company for four years but he first met Chairman Park five years ago when they started this venture together. CEO Ted Ko said that getting into the industry with a more advanced technology will change the paradigm of the existing security technology. Currently, the merchants control all the payment processes. "Now, with this new color code technology, users will be allowed to see how the payments will go through with a certain process and the users control the key. This means that if a user types in the wrong amount of money, the user can retrieve it quickly and enter the amount again," shared CEO Ted Ko.
When asked about the new innovations that the company will offer in the coming months, CEO Ted Ko expressed his excitement of being in New York and shared the company's upcoming expansion plans in the US market. Recently, Starcave Global inked a $3 million investment from LDJ Cayman Fund Ltd, the LDJ Venture Capital (VC) Division's offshore investment arm.
For more information on Starcave Global, visit: https://starcaveglobal.com