Sony Announces Work on Unnamed Hardware Wallet to Interact with Bitcoin and Other Crypto Networks

There are few bigger names in the technology industry than Sony, and when they decide that an endeavor is worth pursuing, like cryptocurrency, the world needs to take note. Most recently, the research division of Sony announced on October 23rd that their focus is on a contactless cryptocurrency hardware wallet.

The device has yet to be assigned a name or even a project title, but the goal will be for it to communicate with cryptocurrency networks, like Bitcoin. To make this possible, Sony is using IC smart card technology, which is a popular form of tech in Japan.

The developers from Sony Computer Science Labs (SCSL) say that the main advantage of this wallet is the way that they’ve done away with the necessity for physically connecting the wallet to a host device. The majority of hardware wallets in the industry, up until this point, required a USD connection, anchoring it to the computer that performs these transactions. The release elaborates, explaining,

“In addition, it is possible to securely generate and store a private key with a highly reliable tamper-proof module within the IC card.”

Sony has been fairly present in the multi-national search to find use cases for blockchain technology through the last few years. They’ve also launched several solutions and applied for patents that involve the innovative ledger solution.

Along with the basic ability to send and receive crypto assets, the point of this hardware is also to have multi-purpose use. The release said,

“This IC card-type cryptocurrency hardware wallet technology not only manages the private keys used for cryptocurrency transactions, but also manages private keys used for other purposes, such as those for permitting the use of personal information using blockchain technology. It is an infrastructure technology with multiple possible applications.”

Despite the publicity that Sony is pushing for, there’s little else known about the project. Right now, there’s not a release date, and there’s no indication of whether Sony is planning a mass rollout.

To view the full press release, visit https://www.sonycsl.co.jp/press/prs201810-2/?lang=en.

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