Cryptocurrency Hardware Wallet
The cryptocurrencies purchase on exchanges will store in an online wallet by the exchange. They do not possess the wallet in itself. However, only possess the key to access those cryptocurrencies in it. The online crypto wallet manager has all the private keys and is susceptible to hacks. Moreover, others can gain access to it, if they get the private keys. Hardware wallets, on the other hand, is independent of the online network. The private key is available with the user who manages it.
Sony CSL has developed a new hardware wallet technology to avoid the online networks. Moreover, this help users gain complete access to their wallet using IC technology. The IC technology allows mutual authentication/encrypted communication technology by utilizing Sony’s expertise in the contactless IC card technology.
IC smart card tech has been finessed over the years to make it small and portable. Unlike, some typical hardware wallets that need to be connected to the PCs via USBs. Now, it is possible to securely generate and store private key with a reliable and tamper-proof module within the IC card. This new type of wallet allows users to conduct transactions. Moreover, it also helps the user manage their private keys as well.
Sony CSL aims to further the spread of blockchain technology into the world by putting itself into various blockchain projects. Recently, Sony is trying to use blockchain technology to protect educational content available online. Meanwhile, it has also teamed up with Greenfence to put Goosebumps collectible trading cards on the blockchain. Apart from the above, Sony has several blockchain patents that are pending approval.