New ‘Unhackable’ Cryptocurrency Wallet
Cryptocurrency hacks and lost funds are a constant worry amongst cryptocurrency investors and users. Stories of untold riches and wealth being lost or stolen seem to crop up every year, and with investment and usability only increasing, third party vendors are striving to catch up with the demand and opportunity.
Layer – a design studio run by Benjamin Hubert, has collaborated with a fintech startup to launch ‘Trove’ – a digital wallet and app which can store cryptocurrency in a completely unhackable medium. The ecosystem consists of four parts: Coin, Keep, Safe, and the Trove app itself. The Coin element of the wallet is a small wearable device with an inbuilt electrocardiogram (heart) sensor. This means that the wallet can only be opened biometrically, similar to fingerprint detection. It registers the user’s unique heartbeat and verifies the transfer via a Bluetooth connection with the app. Available in either black aerated aluminium or silver anodised aluminium, Coin can be attached to three different accessories – a necklace, wristband or brooch.
Coin certainly seems to provide a novel way to validate on-the-go transactions, and provides a much-needed alternative to encryption keys and pin combinations. Wearable cryptocurrency wallet tech is still its infancy, and any usable consumer products will help increase adoption.
Other elements of the wallet – Keep and Safe – are used to charge the coin via induction (Keep) and act as a personal home bank (Safe). Providing easy access to an individual’s offline wallet through the app means that sensitive data is kept separate from potential vulnerabilities.
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