BitVault – Smart Blockchain Phone, Wallet, Messenger & Banking?
BitVault is the world’s first blockchain-based smartphone. Find out what that means – and how it works – today in our review.
What Is BitVault?
BitVault is a smartphone built for the blockchain community. The phone is being delivered in November 2017. Priced at 949 EUR, the phone promises to provide “a Swiss bank in your pocket.”
The phone has been available for pre-order over the last few months. On September 18, the Limerick, Ireland-based manufacturer, Embedded Downloads, announced that the phone will start shipping in November. BitVault was first announced at Fintech Week, which took place in London from June 7 to 14.
The BitVault official website can be found online at SwissBankInYourPocket.com
BitVault has a number of crucial security features that will appeal to a security-minded crowd – particularly those who own blockchain-based digital currencies. It comes with a range of unique features you’re unlikely to find on any other smartphone, including all of the following:
Dynamic Key Creation:
BitVault uses biometric identification combined with NFC technology to allow users to create public and private keys every time the device is used. These keys are never stored anywhere. Plus, the keys can only be created by the specific user. The keys are used to encrypt transaction, encrypt communications, and secure all app-based data on the device.
BitVault uses advanced cryptography to enable public key to public key calling. Cryptocurrency transactions are used to create multiple layers of encryption.
The same cryptographic methods are used for secure messaging. BitVault to BitVault messaging has multiple layers of encryption.
Secure Document Transfer:
When users send documents created on a laptop or a PC via the BitVault phone as an attachment, the documents are transferred over a private blockchain separate from the BitVault communication environment. To accept that document, both the sender and receiver will need to download an application on their respective computers to send or receive documents. Keys to open these documents will be securely transmitted from one BitVault device to another. Ultimately, that means outside documents can never enter the BitVault communication environment, which is expected to keep the platform free from any type of malware.
BitVault provides secure browsing using blockchain technology. The BitVault blockchain dynamically secures websites through a set of confirmation steps. That means browsing with BitVault is severely restricted and controlled by strict rules to preserve the integrity of the environment.
BitVault App Store:
BitVault has its own dedicated app store. That app store is open to outside developers. BitVault is based on a secure, modified version of the Android mobile OS. However, standard Android apps cannot be uploaded to the BitVault app store. Any developers who want to build apps for BitVault will be licensed, and they’ll receive a developer toolkit to help develop their apps.
Who’s Behind BitVault?
BitVault was made by a company named Embedded Downloads. The company has development offices in Limerick, Ireland and New Delhi, India. Aside from making blockchain-based smartphones, the company specializes in secure hardware and software for the IoT industry.
To bring the phone to market, BitVault has partnered with a Gurgaon, India-based company named VVDN Technologies. The company was founded in 2007 and maintains design centers in Kochi, Chennai, Bangalore, and Pune.
BitVault Tech Specs
We know BitVault comes enabled with blockchain technology. But what about the tech specs? Here are some of the important things you need to know about the tech inside of your BitVault smartphone:
- Biometric technology (iris scanner and fingerprint recognition)
- Third party independent multilayer security (3IMS)
- 5.5-inch touchscreen
- 64 bit 2.0 GHz octa-core processor
- 4GB RAM
- 64GB flash storage
- 4G LTE, Wi-Fi, Bluetooth
- 13MP back camera and 8MP front-facing camera
BitVault is currently priced at €949.00.
The manufacturer plans to increase the price to €1049 once the pre-order session is complete. They may also increase the price by another 100 EUR in the future. One line on the website mentions a plan to “increase the price by 100 EUR every month.”
BitVault is a smartphone that uses the blockchain to encrypt all communication on the device. Each BitVault session is secured with a private key, and all messaging is secured from end-to-end. The smartphone makes cryptocurrency payments to keep everything secure.
It also comes equipped with biometric technology – like a fingerprint scanner, an iris scanner, and other high-tech features.
BitVault is currently being manufactured in India. The phone is priced at just under 1000 EUR. You can purchase it online today through SwissBankInYourPocket.com.
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