Cryptocurrency company Case has introduced its new hardware bitcoin wallet at TechCrunch Disrupt conference on Monday.
New York-headquartered bitcoin startup Case has launched its bitcoin wallet platform at TechCrunch Disrupt conference in New York City on Monday. The new service is expected to provide bitcoin users and traders with secure and simple way of using the digital currency.
It took a long period of time until Case was first presented at Inside Bitcoins conference in New York last month. Created in accordance with CryptoCurrency Security Standard (CCSS), the device was produced in late 2014.
“Case represents an evolution for bitcoin users who buy, sell and use bitcoin,” Case CEO Melanie Shapiro said in a press-release. “Since bitcoin is used just like cash, it is imperative to incorporate multi-signature security with greater simplicity and ease-of-use to ensure widespread consumer adoption. We’ve achieved both of these with our bitcoin wallet. Bitcoin users no longer need to choose between the security of their bitcoin and ease-of-use.”
The device, which is the size of a credit card, features a small screen, a GSM chip, a camera and a fingerprint sensor. The benefit of using the device is that it eliminates the need of entering passwords or using a smartphone application. All transactions are realized from the device.
In order to make a transaction with the use of cryptocurrency, you just have to press the bitcoin button, scan the QR code using the camera and swipe your finger on the fingerprint scanner.
In order to achieve high-level of security, Case entered into partnership with Third Key Solutions, a provider of cryptographic key management solutions.
With multi-signature feature, Case holds three keys, one of which is embedded in the device and the second one is held on the server and can be accessed through a fingerprint scanner.
The third private key is held by Third Key Solutions in an offline vault. By storing the third key offline, the company helps to recover the lost or stolen bitcoins.
A GSM chip, which is built in the device, allows using the wallet in 100 countries without the need to pay for a subscription.
“Case creates more opportunities to use bitcoin by employing GSM networks to relay transactions in over 100 countries, without having to rely on your phone or computer for an Internet connection. We’ve also equipped Case with biometric authentication, which adds an additional layer of security and allows you to establish ownership of your device,” the company wrote on its website.
Currently there is only a limited number of individually numbered Case wallets available for order. The introductory price of each device, which can be acquired through the company’s website, is $199.