The Bitsy Wallet
The platform aims to serve as a user-friendly bridge between the fiat and crypto realms. Projected to wrap up its beta test phase toward the end of this year, it plans to incorporate features that will appeal to both crypto purists and novices, such as Overstock’s core customer segment of middle-aged women who may not be tech-savvy.
The hardcore investors could hold actual physical possession of the coins, rather than just a contractual claim to a bitcoin held on an exchange or with another third-party custodian. Byrne explained:
“The whole point of crypto is to have a form of money that no authority could control. This is crypto as crypto is meant to be.”
The key feature is a user-friendly experience that enables users who might be interested in the digital assets but step back due to complexities and computer jargon related to them. Medici’s COO and general counsel, Steve Hopkins said:
“We’ve made usability our highest priority. We’ve spent a lot of time really understanding how people who don’t have a computer science background interact with payment applications.”
For one the wallet will integrate biometric security measures such as fingerprint scans and facial recognition to verify the identity. A patent-pending key recovery mechanism will enable the user’s private key to be regenerated in extreme circumstances. Reducing the potential risk of losing one’s holding forever if their phone is destroyed or stolen. Byrne added:
“Bitsy sets a new standard for cryptocurrency wallets. What it’s offering is quite special compared to most wallets in the marketplace.”
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