Sony announced the development of a new type of cryptocurrency hardware wallet that uses IC card technology. The Japanese conglomerate also said it firmly believes in the potential for commercialization and widespread adoption of blockchain technology.
Also read: Blockchain launches hardware wallet
Secure digital assets
Tokyo-based Sony, a household name for decades, is into blockchain technology and cryptocurrency solutions. Sony Computer Science Laboratories, a subsidiary of the group, announced on October 23 that it had developed a hardware wallet for digital assets. The new technology uses the IC card protocol, an application that enables high-speed communication with payment readers.
The company said the card is “contactless” because it uses “mutual authentication / encrypted communication” with the IC protocol. According to the documentation for the wallet, the company has developed and refined the IC protocol over the past few years.
“The IC card-type hardware wallet is small, portable and useful, unlike the typical existing hardware wallet that connects to PCs via USB,” said Sony. “In addition, it is possible to securely generate and store a private key with an extremely reliable tamper-proof module on the IC card.”
Sony’s hardware wallet specs
Focus on blockchain solutions
Sony said the IC-based cards manage private keys for cryptocurrencies, but added that they have other uses as well. The company is likely referring to a universal FIDO key (U2F) for platforms like Google and Dropbox.
“It’s an infrastructure technology with multiple potential applications,” she said, stating that she believes in the future of blockchain technology and hopes to strengthen this infrastructure with her own product offerings.
Sony concluded with the following words:
Sony CSL will continue to pursue initiatives to commercialize its “cryptocurrency hardware wallet technology”, which enables secure transactions of digital assets, including cryptocurrencies, to drive the widespread adoption of blockchain technology.
Sony’s announcement is not the first time the Japanese company has expressed an interest in distributed ledger logs. A week before the hardware wallet was announced, it was announced that a blockchain solution for managing digital rights was being developed. About a year ago, a patent was filed with IBM for a blockchain-based education platform.
What do you think of Sony’s efforts to develop a hardware wallet for cryptocurrencies based on IC card technology? Let us know what you think on this matter in the comments section below.
Images via Shutterstock, Sony and Sony Computer Science Laboratories.
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Tags in this story
Communication, Contactless, Corporation, Cryptocurrency, Digital Assets, Ethereum, Hardware Wallet, Japan, N-Featured, Security, Sony, U2F
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