Ernst & Young (EY) Selects Ledger Wallet With Startup Of The Year Award

The hardware wallet producer Ledger, a crypto firm based in France, has been granted the Startup of the year Award by the international accountancy firm Ernst and Young for the region located in Ile-de-France. According to a report released by The Next Web, EY operates a yearly competition in the commercial world known as Le Prix de l’Entrepreneur de l’Annee.

The competition is usually done in three categories, namely: the best businessperson, societal obligation as well as startup. The district championship for 2018 in Ile-de-France was awarded to Ledger. Ledger is a firm which in recent times came up with two innovative apps for the Nano S hardware wallet. The two applications are known as ‘HODL’ and ‘Recovery Check’.

According to a report released by CryptoGlobe, both of the applications operate on the Ledger Nano S. However, both of them require a desktop application of any device for the application Ledger Live, to be set up.

The application known as HODL fundamentally assists users to avoid mistakes which are related to their addresses. The app does this by assisting the Nano S to show up on their devices as ‘computer-generated keyboard.’

The ‘Recovery Check’ application is instrumental in assisting to help in the wallet recovery process in a faster and easier way. This in turn ensures that users who have misplaced their original hardware wallet are able to restore their money devoid of the need to go through a long process.

The startup, known as Per TNW is expected to go on to the subsequent round of competition, where is anticipated that it will face-off with a couple of other startups. Out of the eight startups, one is expected to advance to be in a position of competing for an international award. The success of Ledger has seen it receive the attention of several global firms like Samsung and Google.

The firm has also had a fair share of challenges where its wallet suffered a malfunction that ended up in users suffering huge losses. This forced the firm to momentarily close its substructures, where it pledged that it would recover all the lost funds.

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