FuzeW Card to Protect Users with Advanced Security Methods
Fuze Card (AKA BrilliantTS), the startup has just revealed its newest addition to the family at the Mobile World Congress with the FuzeW cryptocurrency hardware wallet. This smart multi-ecard capitalizes on its original product that became the second largest funded Indiegogo campaign in the world raising a total of $2,410,868. BrilliantTS aimed to create a card, or cold wallet, that could store over 30 cryptocurrencies while ensuring numerous layers of defense. Crunchbase lists Jaehun Bae as the company CEO and inventor.
Features such as the FIPS and EAL-5 certified SE, fingerprint recognition, and OTP authentication protect user’s private key which is considered most vulnerable during transactions. These enhanced security methods give the FuzeW a key advantage that is exclusive from other cold wallets on the market. Product Manager at Brilliant TS, Daniel Kim, stated in a press release that “The secure use of cryptocurrency and the protection of our investors’ assets through FuzeW are our top priority…[and]
[FuseW] will also present a new paradigm in the cold wallet market…
This cryptocurrency ecard is just 0.84 mm thick complete with the first-ever 3.1 inch widescreen display. The 3 buttons on the bottom right hand corner allows cardholders to select designated currency, split transactions between payment methods, and lock the card for security purposes. The ecard also “offers personalized display, in which users can select graphics or texts to display on its ultra-wide screen.” An accompanying mobile app allows users to manage the FuzeW and add additional cards to the account by swiping or taking a picture of the chosen card(s). In the event that your FuzeW is left behind, the mobile app will alert your smartphone and users could also erase all information off of their card with the click of a button. It is the only cryptocurrency wallet that has a slide-in charging cradle when on the go and a USB cable hookup for direct PC connection.
Other Cryptocurrency eCard on the Market?
Last December the London-based digital banking alternative, Revolut, enabled its users to buy, sell and trade cryptocurrencies along with 25 fiat currencies all on one card. It eliminates or greatly decreases FX fees and keeps crypto transactions at a 1.5% markup with no hidden charges. Cardholders are able to send money with over 130 currencies in over 120 countries at the real exchange rate, saving you up to 8% each transaction. They also launched “pay per day” travel/medical insurance options using cryptocurrencies earlier this year. Starting at only $1.38 a day, Revolut would fund your chosen medical insurance provider automatically.
Will Fuze Resurrect the Smartcard Industry?
One of the pioneers of this technology was Coin but due to its technical issues and product risks has faded away after being acquired by Fitbit. In addition, the LitePay Visa, which is a wallet that allows global transactions of its native LiteCoin, has just announced its delayed release after blaming its 4% market drop in less than 24 hours on ‘hostile actions’ taken by financial institutions towards cryptocurrencies. How will Fuze address these issues and not have the same fate as those before it? In theory, smartcards are of immense value but without certainty that it will work properly or secure the user’s personal data, it has been a difficult model to sustain.
At the time of publishing, we weren’t able to get a quote from Fuze representatives but will update once additional information is received.
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