Coinkite working on future of verified cheque with bitcoin-storing USB device With all the hype around bitcoin and cryptocurrency, the question remains about how to leverage bitcoin on a daily basis for the everyday customer that isn’t necessarily tech-savvy.
During the blockchain special of The Disruptors, Coinkite, a bitcoin hardware and software company, pitched on the show about how it was working on a solution that brings digital bitcoins to the physical world. Coinkite lets users deposit bitcoin currency in a USB device — called OpenDime — that can simply be handed to its recipient. OpenDime’s private key is generated inside the device and is not known to any human — not even the owner. In the future, the company sees anyone who needs to transact digital money in-person using the platform.
“You are able to trust that the value is in that device just like a verified cheque. Whoever holds the verified cheque is the owner of the value,” said Rodolfo Novak, co-founder of Coinkite. “It enables you to use Bitcoin physically, just like cash.”
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