Digital credit card replacement Coin is almost ready to swipe
See the original posting on The Verge
Since digital card holder Coin was announced last November, the team behind it has done a lot of thinking. To battle fraud, they’ve implemented an optional morse code unlocking system. To help manufacture the more than 20,000 Coins pre-ordered, the company poached Apple’s iPhone supply chain guy. To improve Coin’s two-year battery life, the device’s magnetic strip now only turns on at the millisecond it’s being swiped. Coin even hired two outside security firms to audit their entire operation from the inside out, and built a system that could allow each Coin to send a unique code string to verify every transaction, which would “obliterate” fraud, says founder Kanishk Parashar.
But Coin is far from finished. As of today, the device only…