Blockchain News, Business, Cryptocurrency News

Sony Reveals Its New Contactless Multi-Functionality Crypto Hardware Wallet.

In line with recent official press release by the Japanese tech giant company ‘Sony,’ it has developed a contactless cryptocurrency hardware wallet. The new hardware device developed in un-named yet but the device utilizes IC smart card technology which is popular in Japan to interact with the Bitcoin [BTC] or alternative other cryptocurrency network.

The advantagesin line with the developers from Sony Labs [SCSL], lie in dispensing with the requirement to connect the hardware wallet to a host device via USB, as is the current normal standard for the industry.

The press release further added:

“In addition, it’s potential to firmly generate and store a personal key with a extremely reliable tamper-proof module inside the IC card.”

Sony has joined several multinationals in experimenting with blockchain technology in the recent years, revealing many possible solutions and applying for patents associated with the blockchain hardware.

Beyond sending and receiving cryptocurrencies, the newest hardware wallet also provides multi-purpose uses, the company claims:

“This IC card-type cryptocurrency hardware wallet technology not solely manages the personal keys used for cryptocurrency transactions, however conjointly manages personal keys used for alternative functionslike those allowing the employment of personal information employing the blockchain technology.”

Adding further Sony stated:

“It is an infrastructure technology with multiple potential applications.”

It is however still not known whether when a mass rollout of this new hardware wallet is scheduled by the company.

Earlier in March this year, Japanese financial services cluster SBI Holdings purchased 40% of Taiwanese cryptocurrency hardware wallet company CoolBitX. Leading security-focused hardware wallet provider Ledger noted in July that it had sold-out over 1,000,000 wallets in 2017, earning a profit of around $29 Mln.

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