Bitcoin wallet definition
Much like how cryptocurrencies are reshaping the definition of money, wearable technologies are rethinking how the real and digital worlds interact. Startup wearable tech company MEVU recently unveiled a new, proof-of-concept bracelet that tracks wrist movements. It’s first real-world application is to serve as a bitcoin wallet that can approve purchases with little more than a hand gesture.
Powered by Coinbase’s wallet API and MEVU’s custom Linux-variant Alive OS, the bracelet’s technology provides an insightful window into how future transactions might work in a post-cash, post-card, and even post-smartphone world. The device uses the relatively new Bluetooth Low Energy (BLE) system for communicating with any nearby device.
Although the bracelet is very much a proof-of-concept demonstration, it’s not implausible that such devices could be used in the near future. Every piece of the device uses currently availble technology. Speaking with CoinDesk, MEVU CEO Apurv Mishra explained how the system works.
In BLE, we know the proximity, and then you use the gesture to authenticate the transaction. Most iPads that are point-of-sale devices actually use BLE. So it can be really intuitive without adding any additional infrastructure.”
There are many logistical and practical challenges to be solved before MEVU’s device is ready for the mainstream market. The company is making a limited number of the prototypes available for purchase from their website. Developers interested in Alive OS can apply for a preview version from the company’s website.
