The biggest challenge crypto industry is facing right now is the security. Even the most advanced and digitally secured exchanges and wallets have been hacked and lost millions of dollars. And that’s why hardware wallets are gaining so much popularity these days. Sony is one of the latest companies to come forward. They developed a secure crypto hardware wallet.
The good thing about hardware wallet is that they are not connected to internet. They are offline system without any digital access from the network. As it has been noticed that many hackers access the crypto wallets using internet. With an offline hardware wallet, you practically secure your digital assets without having any fear of being hacked. Researchers at the Sony Computer Science Lab have created a hardware wallet that uses IC smart card functionalities to establish connection with digital networks like Bitcoin.
One of its latest feature enable users to access the crypto coin’s network without connecting to host computer via a USB device. There are few very good hardware wallets by other manufacturers but Sony wallet has a new functionality that no other wallet offer. Users can generate and manage a highly secure private key using the secure module hard coded into the IC card. This would create an extra layer of security to the hardware wallet.
One can use these private keys for other purposes besides crypto transactions. Such purposes include user permissions to access personal information while being on block chain network. In Sony’s own words, “The new crypto hardware wallet is an infrastructure technology with multiple possible applications. This isn’t the first time, Sony has come up with blockchain related technology products. The tech Giant has invested in various research projects and has delivered many useful solutions. The wallet has no official name yet. The schedule to release the product for public has to be announced as well. As the digital currency industry is moving fast, this kind of product has good future.