Case develops biometric bitcoin wallet
“There’s no easy and secure way to use bitcoin,” Case co-founder and CEO Melanie Shapiro said. “You’re either getting security, or you’re getting ease of use.”
Case aims to provide both of these benefits in its bitcoin wallet. The small credit card-shaped device features a small screen, a fingerprint sensor, a camera, a built-in GSM chip and a few buttons.
To conduct a bitcoin transaction, users simply press the bitcoin button, scan the QR code using the camera, and swipe their fingerprint.
Users can purchase and sell bitcoins all from the device itself, eliminating the need to enter a password or use a smartphone app.
The highly secured multi-signature wallet requires two signatures to conduct a transaction: a private key that is generated on the device itself, and a second key that is stored in its encrypted online database.
The server authorizes a transaction if the user’s fingerprint scan matches his or her biometric data. The device uses its built-in GSM chip to communicate with these servers.
In the event that the Case wallet is lost, users can recover their bitcoins by retrieving a third key stored in an offline vault after proving their identity.
Priced at $199, Case is taking pre-orders now for shipment this summer.
Case’s Disrupt NY presentation can be viewed in its entirety here.