Bitcoins Linked to Heartbeat
Your Heartbeat as your Bitcoin Wallet
A wearable device that converts body heat to electricity brings wearable tech. back into the headlines.
It functions as an ultra-thin and flexible patch. This is not necessarily a new idea.
However, the Korea Advanced Institute of Science and Technology has created a patch that remains thin and flexible, while maintaining maximum power output. This is unique.
The race is on to develop a technology that can vastly extend the life of personal electronics.
The idea is to wear the technology so it’s easily accessible and captures the power of the human engine.
Next generation mobile devices like Google Glass switch between ‘on’ and ‘idle’ to achieve longevity. This limits their use.
It is hoped that a wearable technology, like this patch, will someday eliminate the need for batteries entirely.
The wearable technology space is exciting. Advances have caught the attention of Bitcoin technologists.
Canadian biometrics company Bionym recently unveiled the Nymi wristband. This uses a wearer’s heartbeat to authenticate identity.
The Nymi replaces traditional passwords with the individuality of a users heartbeat.
Bluetooth sends a user’s heartbeat signature to an outgoing transactions from a Bitcoin wallet. This authorises the transaction.
A users’s unique heartbeat as physical confirmation provides a lot of benefits. Especially over traditional, hackable passwords.
The sensor recognises the heartbeat (specifically, the pattern your ECG makes). This is like a fingerprint, which is unique. It remains unchanged regardless of your state: resting, exercising, stressed, nervous, etc.
The video above paints a beautiful image: a password free future. This would be quite the welcome lifestyle change.
While the device may be unhackable (unless someone works out how to hack heartbeats), if you lose the device itself then you’ve lost your wallet. So users will need to backup their Nymi device offline.
Whether users will embrace this product remains to be seen. Nevertheless, it represents a very interesting application and combination of two spheres: wearable tech. and bitcoin tech.