NEW YORK, April 25, 2018 /PRNewswire/ -- ilmatic is
building a secure, wearable, hardware wallet to put cryptocurrency
on your wrist.
The company is taking direct aim at one of the biggest challenges
in cryptocurrency - real world commerce. Founder and CEO
Danny Tamez says that the ilmatic
wallet's hardware is critical to unlocking true cryptocurrency
payments in physical spaces.
"Secure hardware is the key to putting virtual currency into the
hands of everyday people. Software alone will always be less secure
and leave you more exposed to hackers." The device contains a NFC
chip to make wireless transactions and a secure element
microcontroller to protect the user's private keys.
While other crypto payment ideas have launched as mobile apps or
credit cards, ilmatic delivers an innovative solution by combining
contactless payments with various cryptocurrency protocols. The
engineering team has been quietly working on connected devices for
the last two years and brings experience from the technology
research center EURECAT, consumer electronics in Silicon Valley,
the LoRaWAN project, and the U.S. Department of Defense. Now,
ilmatic looks like the first wearable crypto wallet to arrive in
the blockchain space.
Last year Ledger sold 1 million units of a cold storage hardware
wallet that looks like a USB stick. ilmatic delivers similar
storage, plus a spending wallet, which may present a more
well-rounded product. The company says it will support
cryptocurrencies that deliver fast and inexpensive transactions and
named Bitcoin on the Lightning Network, Bitcoin Cash, Litecoin, and
Ripple as possible integrations. The team is also working on its
own coin protocol designed specifically for its ilmatic wallet.
Tamez finished by saying: "We are making cryptocurrency tangible.
When people can hold an object that represents their money, then it
becomes easier to understand and use. We want to change the way
that people experience money."
The San Francisco based technology
startup is now taking Tesla-like reservations for the ilmatic
wallet, which costs $20 USD, gives
you priority in the queue, and guarantees a special early bird
price.
This release was issued through WebWire® . For
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SOURCE ilmatic