Bitcometric! Nymi Wristband to Include Bitcoin Wallet Secured by Heartbeat

When stored on a device, one of the potential drawbacks of cryptocurrency has been its susceptibility to permanent loss through mishaps such as damage, loss and theft. The private keys are your lifeline to your investment; if these are lost, so is your cash. There is no local branch to visit, no teller to show ID such as when you forget your banking PIN.

A solution: Bionym has recently announced the mid-2014 rollout of the Nymi, a biometric wristband that includes a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term wallet application, securing bitcoins biometrically based on your heartbeat. There will be no need to remember passwords or find private keys, the private keys being stored on the device. If any other unauthenticated individual wears the device, the device is rendered benign as if it's empty of value. There's nothing to hack.

As the bitcoins are stored locally, there is still the risk of loss if something happens to the device. The wallet will apparently have a way of "backing up" the coins on offline.

The Bitcoin Wallet is only one of several features of the Nymi, which will endeavor to replace passwords and keys for a plethora of applications such as logging into secure mobile applications, opening your car, secure Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and opening your hotel room.

Although heart rate can fluctuate within the individual, and on the other hand match that of someone else, the heartbeat still serves as a distinct identifier based on its profile.

its own biometric bitcoin storage system, which took the form of a card that authenticates via fingerprint- until now the dominant identifier in biometrics.

The Nymi is currently promoted for $79 pre-ordered. Depending on how much people are willing to pay for it in the long run, profitability may be a challenge, as is often the case with this technology.

It's unclear at this point if there are any plans to have the device support other digital currencies such as Litecoin or Dogecoin (Doggy Collar anyone?).