SecureKey Simplifier combines biometric data and distributed secure storage to manage keys.

Upon setting up their DeFi wallet, users register biometric data (such as a fingerprint or face ID) that is stored as a cryptographic hash on a decentralized ledger.

The user's private key is then split into multiple shares using a cryptographic technique called Shamir's Secret Sharing and stored across different nodes.

In case of loss or theft, biometrics help reconstruct the private key, ensuring no single point of failure.

The solution also includes an intuitive user interface for regular activities like viewing assets and executing trades, seamlessly integrating with DeFi applications.

This solution eliminates the risk of losing access due to misplaced keys while enhancing security through biometric assurances.

Unlike current multi-signature or cold storage solutions, SecureKey provides an easy-to-use interface that requires minimal technical proficiency, facilitating wider DeFi adoption.

The technology for biometric authentication and Shamir's Secret Sharing is mature, though integration for decentralized storage requires robust network coordination.

Costs involve development and initial deployment but can benefit from existing decentralized infrastructures.

Regulatory environments are still evolving, but the technology aligns with personal user security models seen in other sectors.