Represent Bitcoin with this wristband! – $ each Pay With Bitcoin. Feb 04, · One key, which is public, allows people to receive bitcoins, while another, a private key, is required to spend bitcoins. By using the Nymi, the wristband wearer's private keys are tied to their. Sep 08, · Canadian wearable-tech startup Boinym has launched a biometric bitcoin wallet that relies on its Nymi smart wristband for authentication.. The Nymi wristband has a clever way of confirming the user’s identity: it scans the wearer’s heartwave using an electrocardiogram (ECG) sensor and matches its pattern to the one stored in its database.
Bitcoin wristbandBionym's Nymi smartwatch promises to safeguard your Bitcoins, data.
This makes them an ideal biometric signal for authentication, unless you happen to wear a pacemaker, perhaps. How To. Tap to spend The combination of a simple wallet and sustained authentication means that users can authenticate their private bitcoin key on the fly.
Share 0. Tweet 0. Pin it 0. He also makes a bold claim:. Incidentally, the wristband can also be used to do what smart wristbands do best — track your physical activity and integrate with fitness apps.
The ultimate goal, he says, is to do for personal identification what the iPhone did for phones. However, unlike the iPhone, Nymi is an open-source platform and could be used to add more applications without moderation from the manufacturer. In other words, if the concept takes off, it could be integrated with existing bitcoin wallets, as well as other services requiring secure authentication.
ECG readings are practically impossible to replicate and are unique, like fingerprints. The Nymi wristband , which will be shipping in early , uses the wearer's heartbeat or, more precisely, the shape of an individual's ECG wave as a unique signature used to authenticate identity. Toronto-based Bionym has its sights set on eventually replacing all passwords with its wearable tech.
But it is launching its own Bitcoin wallet as one of its first apps for the Nymi. The Nymi's multi-factor system, including its ECG biometric, ensures secure Bitcoin storage tied to the rightful owner. Bitcoin requires two keys to make transactions.