Bitcoin Wallet Uses Comprehensive Multi-Factor Security

Bitcoin Wallet Uses Comprehensive Multi-Factor SecurityA new device is aiming to offer comprehensive security for bitcoins, reports Romain Dillet in a TechCrunch article. Called Case, the credit card-shaped product is aiming to prevent any further data breaches against bitcoin users.

The device features a robust security apparatus employing a fingerprint sensor, a small screen, and a GSM chip. In order to authenticate a transaction, the user presses the bitcoin button, scans a QR code using Case’s camera, and performs biometric authentication via the fingerprint sensor. Each device comes with its own unique built-in key, and Case keeps a corresponding, encrypted key in its online database. There’s also a third key in an offline vault, which can be used to recover bitcoins in the event that a user loses their Case.

While a recent MasterCard study indicated that consumer attitudes toward security in mPayments are apparently pretty lax, it seems a good bet that users of the bitcoin crypto-currency will be somewhat more concerned about safeguarding their stockpiles. Other organizations have dipped into biometrics to try to offer such security, as in the case of Robocoin’s bitcoin ATM, but no device has offered as comprehensive a solution as the one from Case.

Case devices are slated to go on sale this summer at a price of $199 USD.