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Sony Enters The Cryptocurrency Hardware Market With A New Invention

The electronics giant Sony is in the latest cryptocurrency news for developing a new and robust technology that according to the company, could help cryptocurrency users to store their assets in a secure way. As the giant said, the technology might be coming soon to stores near you – and the company’s plans are to ‘commercialize’ it as soon as possible.

According to the Japanese tech conglomerate and their official announcement, it was the Computer Science Laboratories division (Sony CSL) which first developed the cryptocurrency hardware wallet that could be used to store Bitcoin and other altcoin tokens in a secure offline environment.

Unlike the common hardware wallets which connect to the PCs or mobile devices via an USB cord, the CSL wallet would store the private keys on a contactless IC card and therefore enable the user to easily sign transactions from the NFC-enabled mobile device.

As the announcement explains:

“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 also notes that the type of wallet card could have “multiple possible applications” such as requiring users to sign a blockchain transaction in order to authorize the use of their personal information.

Earlier this year, Sony applied to patent a system that uses blockchain technology for digital rights management (DRM). With this new announcement, it officially confirms that it may become a big player in the fields of crypto and blockchain.