In a press release dated October 23, Sony Computer Science Laboratories, Inc. (Sony CSL) has announced that it has created a contactless cryptocurrency hardware wallet. Sony’s hardware wallet utilizes IC smart card technology popular in Japan to communicate with the Bitcoin (BTC) or other cryptocurrency networks.
The yet-to-be-named hardware wallet is small, portable and useful, unlike the existing hardware wallets that connect to PCs via USB. Sony’s new release aims to eradicate the requirement of USB connectivity for crypto hardware wallets. In addition, it is possible to securely generate and store a private key with a highly reliable tamper-proof module within the IC card.
This IC card-type cryptocurrency hardware wallet technology includes mutual authentication/encrypted communication technology by applying Sony’s expertise in contactless IC card technology. It will manage private keys used for cryptocurrency transactions as well as for other purposes, like allowing the use of personal information using blockchain technology.
Sony stated, “It is an infrastructure technology with multiple possible applications.”
In the press release, Sony CSL reiterated its resolve to boost adoption of blockchain technology through safe and secure transactions of digital assets including cryptocurrencies. And also initiate appropriate measures towards the commercialization of its cryptocurrency hardware wallet technology.
Lately, Sony has been seen getting involved in various projects in blockchain technology. Back in August 2017, Sony unleashed a new patent application to use blockchain as part of an education platform. For this, Sony had teamed up with IBM to integrate blockchain technology into the education sector. The idea behind the move was to use blockchain as a centralized ledger for storing educational information, such as degrees, diplomas, tests. Sony believed that the system would help prevent fraud while providing access to third-parties for job interviews and assessment among other purposes.
Again, in early October this year, Sony revealed that it was working on a blockchain-powered extension of its digital rights management system. The project was a joint endeavor with Sony Music Entertainment Japan and Sony Global Education. Sony described the project as an ideal means to ‘record verifiable information in a difficult to falsify way.’ However, the exact nature of the blockchain that Sony will use remains unclear.