Yes, you heard that right. Patric Lanhed, a software developer at DigitasLBi, implanted a small NFC (Near Field Communications) chip with the private key to his Bitcoin wallet under his skin.
So How Does the Trick Work?
- Data stored inside a human body
- A custom software app built on top of a Bitcoin wallet’s developer API.
Bitcoin-related NFC technology has been around for a while, but this chip implant approach takes the potential of this technology to the next level.
$1 BILLION invested in Bitcoin Firms So Far
Major companies, including American Express (AXP), MasterCard, Bain Capital and the New York Stock Exchange, have invested overall, a record-breaking $1 Billion into Bitcoin-related tech startups.
The Bitcoin technology promises to transform the way we trade stocks, get paid, send money to each other, and much more. It has come up as an effective way to stop fraud.
So, one can see the future of Bitcoin payments using the bio-payment system.
The Future of Bio-Payments
Bitcoin is just the beginning of their research, as the duo believe that they can turn this payment transfer system into a bio-payment terminal system to be used in stores.
- Medical records
- ID papers like an embedded Passport
- Travel documents
- ICE (In Case of Emergency) tags
- Data authentication for consumer applications like vehicle entry, home security, computer authorization, and many more
- VCard exchange over a phone and lot more applications