pre-EIP: Password-protected Paper Wallets
A mechanism is presented for generating password protected wallets, generated in such a fashion that a printing facility can generate a paper wallet that is encrypted with a user-supplied password, produced in such a fashion that the neither the printer nor the user can recover the account's private key without both the paper wallet and the password. This facilitates generating secure paper wallets or 'physical ether', whose security rests neither on the trustworthiness of the printer nor on the user's ability to effectively conceal their password. Password-protected wallets are encoded as mnemonic phrases, as described in BIP39.
Paper wallets provide an attractive option for secure offline storage of cryptocurrencies, but securely generating a paper wallet can be an involved process, requiring an offline ('airgapped') computer and considerable care to protect private informati