Sony Develops Cryptocurrency hardware pockets Tech, Plans to ‘Commercialize’ it

A logo of Sony Corp is seen outside its showroom in Tokyo February 5, 2014. Japanese electronics maker Sony Corp warned it expects a net loss of 110 billion yen ($1.1 billion) this fiscal year as it absorbs restructuring costs linked to its moves to exit the personal computer business. Picture taken February 5, 2014. REUTERS/Yuya Shino (JAPAN - Tags: BUSINESS LOGO) - RTX18A18
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Electronics giant Sony has developed technology that it believes will help cryptocurrency users store their assets more securely, and that technology might just be coming soon to store near you.

The Japanese tech conglomerate this week announced that its Computer Science Laboratories division (Sony CSL) had developed a cryptocurrency hardware wallet that could be used to store bitcoin and other digital assets in a secure offline environment while retaining the convenience of less-secure online crypto storage systems.

Unlike conventional cryptocurrency hardware wallets like the Trezor One and Ledger Nano S, which connect to the user’s PC or mobile device using a USB cord, Sony CSL’s wallet would store the user’s private keys on a contactless IC card, enabling the user to easily sign transactions from an NFC-enabled mobile device.

Sony explained:

“This IC card type hardware wallet is small, portable and useful, unlike typical existing hardware wallets that connect to PCs via USB. In addition, it is possible to securely generate and store a private key with a highly reliable tamper-proof module within the IC card.”

The release further noted that this type of wallet card would have “multiple possible applications,” including allowing a user to sign a blockchain transaction authorizing the use of their personal information.

Perhaps most extensively, Sony’s development of cryptocurrency tech does no longer look like a mere studies venture, or, as is frequently the case, an instance of a organization searching for to position itself as an innovator in 5bf1289bdb38b4a57d54c435c7e4aa1c technologyalthough it has no plans to transform its studies into realworld productsand applications.

Earlier this year, Sony applied to patent a gadget that makes use of blockchain generation for digital rights management(DRM). just this month, the employer unveiled the manufacturing version of that gadgetso one can construct on Sony worldwide schooling’s already-existent DRM platform for sharing educational information.

In its latest announcement, the firm said it plans to work toward the “commercialization” of its cryptocurrency wallet, with the ultimate aim of furthering the spread of blockchain technology.

The company said, “Sony CSL will continue advancing towards the commercialization of that ‘cryptocurrency hardware wallet technology’ that allows for safe and secure transactions of digital assets including cryptocurrencies with the aim of further…adoption of blockchain technology.”

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