Embedded Downloads of Ireland, and VVDN Technologies, India, are set to become the producers of the world’s first crypto-communicator. Known as BitVault, the unit will work on all existing networks and will incorporate advanced blockchain security features.
It appears the device will first be available for the fintech and defence market in November. The companies involved believe the need for encryption in these industries is greater than in others.
When asked about how BitVault planned to use cryptography and blockchain to secure a device like a phone, VVDN Technologies president, Vivek Bandal told a source that:
We use the principle that you are the key. All keys for encryption are generated by taking your iris, fingerprints and using NFC. They are generated dynamically and randomly and destroyed upon use. If I make a secure call, it goes through multi-levels of encryption and each key for encryption is generated on the fly and is destroyed soon after use.
Founder of Embedded Downloads, Hein Marais, went into the security features further. He outlined the closed-ecosystem which BitVault creates using private and public key pairs. This secure communication method uses cryptography to exclude all but the devices permitted by the user. The phone uses its blockchain security features when making voice and video calls, as well as when messaging and document transfer too. Finally, there’s integrated support for cryptocurrency wallets, and a secure browser.
The device which will run on Android OS was first demoed at London Fintech Week which was help this June. It has a 5.5 inch screen and runs on a 64-bit 2.0 GHz octa-core processor. The BitVault won’t support Google Play. Instead, it will come loaded with its own application store. There, users will find programs developed specifically for BitVault and its unique features.
GadgetsNow report that the November launch will also take place in the UK’s capital.