Ever wondered if you could always carry your Bitcoin wallet with you, with basically no chance of losing it? Well, it seems like it might be happening sooner than you could imagine as, at this year’s Black Sea Summit in Kiev, a bio-implantable chip, NFC, was demonstrated. During the presentation of Dangerous Things’ xNT Implant, attendees could see how the implant could store credit card details and Bitcoin keys.
Dangerous Things started an Indiegogo campaign that was supposed to bring $8,000 to help fund the project but they’ve broke that original goal and managed to raise over $30,000 already! The chip itself is going to cost $99 and will come contained in a cylindrical biocompatible glass, all ready for injections. Payments with this bio-chip are going to be easy, according to what the xNT developers claim, and all a user will have to do while wanting to make a payment will be to scan their hand over any application that is an enabled NFC point-of-sale device. The chip has also its own Android app (currently in beta).
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Dangerous Things wasn’t first
NFC isn’t the first bio-chip that allows making payments with digital currencies. Back in June, the founder of Biofoundry, Meow-Ludo, integrated credit card data and Bitcoin keys into a chip that was implanted to his thumb and allowed the storage of 868 bytes of data. In 2014, Martijn Wismeijer implanted two Bitcoin wallets to his hands, with one hand holding a wallet for purchases and the other one being a cold storage.
With the bio-chips implanted in human bodies, the future of payments seems to be heading in a direction that has the potential to make using funds even easier and quicker, but there are also a rising number of questions addressing the nature of security. Although the bio-chips are supposed to be a safe choice, some say that they might actually make it easier to steal one’s data. One thing’s sure, the change from carrying our wallets and cards with us, to having a small chip hidden in our hand, will be an interesting step to watch.
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