Bitcoin security takes a step up
While Bitcoin exchange Mt.Gox has already gone out to show the increasing number of Bitcoin users how they can keep their wallets secure, Canadian startup Bionym wants to take that security one step further with the Nymi.
Nymi, a wristband that has a biometric scanner and heartbeat monitor built in, is Bionym’s hope for a fully-secure future. While the current model idea is to have it work as a unique password reader for Bitcoin wallets, the possibilities are endless – it could also double up as a replacement for the PIN aspect of EMV.
Nymi works through reading a users fingerprint alongside their own heartbeat – combining the two make an almost uncrackable password to a user’s Bitcoin wallet. It can pair up directly to a Bitcoin wallet associated with the device, but is also there to work with PC’s, tablets, smartphones and even cars. As Nymi measures heart-wave characteristics that are constant, Bionym says that it’ll work regardless of you being sleepy, having had a workout, or if you’re anxious etc. While Nymi will retail with its own bitcoin wallet due to the private key living on the wristband itself, Bionym do say that they can integrate with existing wallets like Coinbase or Blockchain.info’s.
It’s easy to see why Bionym see their wristband as the future of the payments and general data security.
You can see a video below of what Bionym imagines the future with Nymi to be like. Do you reckon it’ll take off as a new and secure way to access your money?