Integrating NFC Technology In Bitcoin Wallet Cards

Dec 13, 2016 at 11:15 // Business
Author
Jacob Okonya
Using Bitcoin NFC technology in any shop

General Bytes, a bitcoin and blockchain technology provider, has manufactured a new bitcoin wallet card that can be used at every Near Field Communication (NFC) point of sale.

A Czech Republic-based Bitcoin hardware manufacturer, General Bytes, decided to replace QR codes with NFC bitcoin wallets for bitcoin point of sale (POS). The company thinks that the new NFC technology can simplify the user experience while transacting with bitcoin.

Meanwhile, other market experts and competitors think introducing NFC technology into bitcoin POS machines won’t really make a big difference as they are all automatic systems.

Adam Nyback, an Independent Payment Card Industry Consultant, Android Developer, and system developer with Anyro told CoinIdol.com:

“The paper wallet is automatically read by the bitcoin machine just like the NFC card, but the card is on the higher side of cost than the QR coded paper wallet”

Does this means QR code usage in bitcoin will be rendered obsolete?

“By killing the QR code in crypto, we not only get rid of a bit of a relic from the past but also remove the need for a mobile phone in most cryptocurrency applications while at the same time greatly simplifying the end-user experience. It’s one of those rare win-win situations,” said Martijn Wismeijer, Genera Byte’s Marketing manager.

Definitely, society always embraces new technologies and advancement. At CoinIdol.com we look at the whole market, that is why we conducted a mini survey to understand whether this product is what we need at the moment.

Denis Lukianov a bitcoin QR code expert  and founder at VEVA, an application consulting firm, said to CoinIdol.com that: 

“The incubation of new technologies depends whether or not point of sales machines that are deployed are willing to upgrade their hardware or not, all I can say is QR codes in bitcoin paper wallets is not obsolete, actually the NFC technology also solves the same problem but in a different way”