1. User-A has a crypto wallet containing assets they need to protect. Instead of storing the seed phrase in a single location and being susceptible to loss, fire, and theft, they can utilize Xecret.io to store it in a set of QR Codes (Xecrets). The QR codes are distributed to friends, family members, or secure locations (home safe, safety deposit box, etc.), each receiving one unique QR code. Individual QR codes are unreadable since they do not contain enough data to recover any information; therefore, User-A can not be compromised by any individuals holding one of the codes.
At a later date, should User-A need to recover their private keys or passwords, then request the holders return the QR codes, which they can scan with the Xecret.io app to recover their confidential information.
Because of the unique threshold mechanism built into Xecret's, only the threshold number of QR codes is needed to recover the confidential information, protecting against one or more of the QR codes being lost, stolen, or damaged.
Note: The Xecret sets' size and recovery threshold are flexible. The user can increase both to enhance security and redundancy (for example, three out of five, or four out of nine, etc., depending on their needs).
2. Xecrets can be used for cold storage. User-A can store their wallet/s seed phrases and private keys in a set of QR codes called Xecrets. The QR codes are stored offline, each QR code in a dispersed location, providing an extremely high level of security while simultaneously protecting against physical destruction and theft.
3. Xecret.io for estate planning. User-A can securely store all their financial account numbers and access credentials in a set of Xecrets. The Xecret are distributed to a group of reliable friends and family members for safekeeping. The holders are instructed to return the Xecrets to User-A's beneficiary if something happens to them.
4. User-A is a corporate executive who wishes to back up the company's confidential information. They use Xecret.io to create a set of QR codes (Xecrets), with a threshold of six (the number of Qr codes necessary to retrieve the information). Each QR code is distributed to a board member, requiring a quorum to be present to retrieve the confidential information stored in the set of Xecrets.
5. User-A and friends start a decentralized autonomous organization (DAO) to purchase non-fungible tokens (NFTs). User-A utilizes Xecret.io to store the seed phrase to the DAO's wallet and distributes one Xecret to each member of the DAO. The threshold number of members must then submit their Xecrets to retrieve the password, which the DAO needs to access its NFTs
6. User-A and two friends decide to purchase a high-profile NFT. They will own the NFT equally with joint custody among the three. User-A uses Xecret.io to turn the group's credentials into a set of QR codes and shares them among the three stakeholders. They set the threshold at three out of three, meaning all three owners must scan their Xecrets together to recover the credentials.