Backup protocol with Social Recovery for private and secure storage of backup files
Consider a mobile app that generates invoices and creates Ethereum accounts for each invoice. Account keys are generated and stored locally and invoice app exports it as a text file. As a developer I need to make sure that this text file will remain accessible to the user even after private key or device loss. DataWallet is a prototype that demonstrates this feature.
We mint an NFT and assign guardians that can transfer it to a new account. Backup is encrypted with Lit Protocol with the condition that only NFT holder can decrypt it. Actors on FEVM handle storage deals for the backup file. When installing the app on a new device the app downloads backup from Filecoin Network and decrypts it.