Sony announces hardware wallet creation. Important step forward for the Japanese company in the cryptocurrency sector.
The Japanese technical giant Sony, which required several patents relating to blockchain, announced a more concrete step in the world of cryptography. In fact, the company's scientific division said a few days ago that it had created a digital hardware portfolio, a storage product that uses the company's integrated circuit identification (IC) radio frequency identification (RFID) system. The Japanese conglomerate claimed that its wallet it is more secure than online (hot) storage, as the product includes mutual authentication and encrypted communication.
"In online wallets such as websites or Exchange of criptovalute, the private key is managed by the online wallet operator, not by the user, which means that users are able to access the wallet itself, but do not manage their own personal private key, "explained the company in its declaration.
However, the Sony wallet is aimed not only at crypto trading, as it manages private keys in transactions, but also in the market of DLT technology (distributed ledger technology), because the product also provides control functions on keys that are part of block chain systems.
So far, Sony has used IC card technology in its FeliCa cards, where a chip and an antenna are integrated into each product and therefore, according to the FeliCa overview, allowing transactions in about 0,1 seconds.
The launch of the Sony wallet evidently takes place in an atmosphere of growing regulatory control on the cryptocurrency market globally, but especially in Asia, after several important security breaches. The Japanese Financial Services Agency (FSA) tightened its rules on digital currency transactions by introducing a new regulatory framework, suggested by the $ 530 million hacker attack on Coincheck in January.
