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A research and development division at Sony has unveiled a new contactless cryptocurrency hardware wallet for cold storage, which could indicate the consumer electronics giant may be eyeing a bigger move into the cryptocurrency space.
Sony Computer Science Lab Preparing Contactless Crypto Wallet
The research and development arm of Japan-based Sony Corporation, Sony Computer Science Laboratories, Inc. have issued a press release revealing their work on a contactless cryptocurrency wallet for storing cryptocurrencies like Bitcoin, Ethereum, Litecoin, and more.
The wallet uses the company’s contactless integrated circuit technology for an added convenience for investors. Traditional cryptocurrency hardware wallets like the Ledger Nano S and Trezor wallets are USB-based, but its wallet would allow the user to ditch the cord and sign transactions from any device with a near-field communication (NFC) chip.
The company has said that the wallet will be “small, portable and useful, unlike typical existing hardware wallets,” and will feature a “highly reliable tamper-proof module within the IC card” for increased security.
While Sony Computer Science Laboratories is the company’s research and development division, and many of the subsidiary’s projects don’t end up being released as a fully-fledged product for consumers to purchase, the press release suggests that the company will push towards “commercialization” to further the “widespread adoption of blockchain technology,” hinting that the company is planning a bigger move into the world of blockchain and cryptocurrency.
Is Sony Planning a Bigger Move Toward a Crypto Ecosystem?
The news of Sony’s cryptocurrency wallet isn’t the first example of Sony’s growing interest into blockchain and potentially, cryptocurrency.
Earlier this year, the company filed with the United States Patent & Trademark Office to be granted a patent to store users’s digital rights data on the blockchain, essentially developing a full-featured blockchain digital rights management (DRM) system. A DRM system validates a users rights to access certain media types, such as movies, music, video games, and more.
It’s the company’s portfolio of brands reaching into various types of media that could provide the perfect ecosystem for a cryptocurrency, potentially even a Sony-developed cryptocurrency.
The company could power payments, create a rewards system, and much more using a cryptocurrency throughout its Sony Music, Sony Pictures, and Sony PlayStation consumer-facing brands.
PlayStation users, in particular, are already familiar with using digital cash to make purchases over the PlayStation Network. It’s also platforms such as the PlayStation Network where users’ access to digital content – such as video games – that would be governed by the company’s blockchain-based DRM system.
Featured image from Shutterstock.
