Thursday, 22 June 2017

The New Technology on Bitcoin

     Smart cards have been a very particular invention. Currently, they are implemented in electronic money, membership cards, underground transportation and identification for university students. Sony-creator of the smart cards- bets by Bitcoin and will integrate to the smart cards a hardware that will be able to operate the purses of cryptocurrencies.

     The technology company reported last week that they are developing a system that allows the use of Bitcoins by means of a contactless payment method of smart cards. That is, users will be able to use smart cards to buy Bitcoin or make their use in commercial premises in a faster and easier way. This technology is being studied and tested in Japan. One problem facing smart cards is the slowness of some Bitcoin Exchanges in the country and many stores refuse to accept cryptocurrency as a means of payment.

     Due to this problem, the company has decided to implement, above the decentralized settlements layer of Bitcoin, a centralized system that confirms all the transactions before transmitting them; Allowing in this way all your customers can enjoy truly instant purchases and make Bitcoin Exchange without any difficulty.

     The use of these smart cards is still being studied. Developers must adapt it to the needs of users so that they can feel satisfied with their benefits.

     With this card, you could buy Bitcoin and these would be stored directly to the Bitcoin account of each person. People who Receive Bitcoin can upload them directly to your card.

     The smart card must be linked to the network to update the Bitcoin Price as this could be very variant but definitely, the smart card will be a big step for Sony and Bitcoin.

     So far there is no specific release date, but the company announced that it will be working with other affiliated businesses to vary the hardware of the purses, betting that the Japanese retail stores will accept those devices in their points of sale. This move could have a big impact in a Japan that opens more and more to Bitcoin, with 260,000 convenience stores interested in cryptocurrency, along with increasingly varied services.

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