Electronics giant Sony has developed technology that it thinks will help cryptocurrency users store their tokens and that technologies could just be coming soon to store near you.

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

What Is Good About Hardware Wallets?

A really good thing about hard wallets is that they’re basically an offline system which doesn’t have online portals. As was discovered of late, hackers have been targeting online-based crypto wallets hosted on exchanges and other trading platforms. With a hardware wallet, then you hold your cryptos within an offline hardware apparatus.

Unlike traditional cryptocurrency hard wallets like the Trezor One and Ledger Nano S, that link to the user’s PC or mobile device using a USB cord, Sony CSL’s pocket could store the user’s private keys on a contactless IC card, allowing the user to sign trades via an NFC-enabled mobile apparatus.

The release further noted that this kind of pocket would have “multiple potential applications,” for example enabling a user to register a blockchain transaction authorizing the use of their personal information.

In Other News...

Perhaps most, Sony’s development of cryptocurrency tech doesn’t seem to be a mere research undertaking, or, as is often the case, an instance of a firm seeking to position itself as an innovator in cutting-edge technology. Even though it has no plans to convert its own research into real-world products and applications.

Apparently, this isn’t the first time Sony has become blockchain-related tech projects. Over recent years, the giant company has carried out various research projects and created a few useful solutions. Additionally, it has patented a few ideas relating to hardware employed in blockchain systems.

Before this year, Sony applied to patent a system which uses blockchain technologies for digital rights management (DRM). Only this month, the company unveiled the production version of that system, which will build upon Sony Global Education’s already-existent DRM platform for sharing educational data.

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


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