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Home Cryptocurrency news Bitcoin

Sony Reveals Contactless Crypto Wallet, Prepping for Crypto Ecosystem?

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin, Blockchain, Cryptocurrency news, Cryptocurrency Technology
Reading Time: 2min read
Sony Reveals Contactless Crypto Wallet, Prepping for Crypto Ecosystem?
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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.

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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.

Tags: blockchainDRMhardware walletjapannfcSonywallet
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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