Emblem Vault was founded by Shannon Code, who began writing code at the young age of 8. As a young adult, Shannon began farming in-game currencies in massively multiplayer online role-playing games (MMORPGs), honing skills that would later prove valuable in the blockchain industry. He landed his first job in the crypto industry as Head of Security for Mastercoin in 2013. During his tenure at Mastercoin, Shannon became intrigued by the idea of creating a wallet that could be sent to someone without the need for the recipient to know the keys, making it easy to transfer a basket of cryptocurrencies.
During this time, Shannon developed a relationship with Sean Dennis and Gregory Simon, the founders of ribbit.me, a company that had built its Ribbit Rewards (RBR) program based on its native token RBR to encourage Bitcoin adoption. When the program struggled to gain early adoption, Sean and Dennis rebranded ribbit.me to Loyyal, and Shannon rebranded Ribbit Rewards as Circuits of Value (COVAL).
On October 16th, 2016, Shannon shared his vision for Emblem Vault on a BitcoinTalk forum, stating the ability to "Fit an entire crypto portfolio into one #NFT token with Emblem Vault!" He went on to say,
"Emblem Vault is the second dApp that is powered by COVAL, and with this, you are able to combine different blockchain wallets into a single tradable NFT token. It will add a new dimension to the world of crypto. You can even choose if you want to make the contents of your Vault open to the public or private. Boundless new possibilities will emerge with Emblem Vault. Think about selling complete portfolios, S&P 500-style contracts for the top 10 crypto projects. Or even sending Bitcoin in a private way, off-chain. No miner's fee or long wait times required!"