A new cryptocurrency wallet secured with a biometric smart card, smartphone-based face recognition and distributed ledger technology, the ExtoWallet, is planning a crowdfunding campaign to launch an Android version.
ExtoLabs is a spinoff from Ethernom, which produces fingerprint-enabled biometric smart cards. The idea is to provide the highest possible level of security for the private keys without sacrificing convenience.
Transactions are co-signed through both the user’s smartphone and the Ethernom card’s fingerprint authentication, which is transmitted through Bluetooth or NFC.
Biometric matching is performed on the card, with fingerprint data stored in a secure element. The card also features a ‘navigation touch-wheel,’ and is charged by a connection with a USB peripheral.
The biometric sensor in the smart card is the T-Shape capacitive sensor from Fingerprint Cards, ExtoLabs CEO and Co-founder Orang Dialameh, who is also CSO and co-founder of Ethernom, told Biometric Update in an email.
Dialameh says that beyond the ExtoWallet application, Ethernom’s biometric cards can be used for digital identity, secure online or physical access, and novel payment forms. The company has already launched BeamU, a biometric online access control solution.
Ethernom’s biometric smart cards are battery-powered, with a rechargeable battery that the company says can last for several weeks between charges.
ExtoWallet also plans to integrate a FIDO U2F multi-factor authentication feature to enable secure sign-on to exchanges that support the protocol.
The ExtoWallet Cryptocurrency Custody Solutions app supports Bitcoin, Bitcoin Cash, Ethereum, and more than 100 other tokens.
Ultimately, Ethernom plans to launch a payment system for on- an offline payments with fiat or cryptocurrencies, ExtoPay, which would leverage ExtoWallet and Ethernom’s features supporting self sovereign digital identity.
ExtoWallet is currently available for iOS, and the company’s crowdfunding campaign is launching soon on Kickstarter.