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Could you design a vault with two compartments with seperate locking mechanisms?
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That'd be relatively simple. There are two main types of electronic security locks. Ones called "fail-safe" will automatically open if they lose power, to avoid trapping someone inside a locked compartment in the event of a power failure. Magnetic locks like the ones I've used in my vault are considered "fail-safe" locks. "Fail-secure" locks, like electric door strikes, will leave a compartment locked in the event of a power failure, and until power is restored, entry cannot be gained unless there is a secondary access device (like a physical key).
It would be quite simple to put a fail-safe device on one compartment, and a fail-secure device on the other. Or, you could just put a standard gun safe or lockbox inside the fail-safe compartment, and store things that don't need instant access inside that lockbox.
-BP