SoftBank, a Japanese “multinational conglomerate holding company,” has released something called an SBC wallet card which “utilizes its own encryption system, realizes multiple encryption mechanisms and can realize hot and cold wallet functions,” according to a press release.
Interestingly, this means that the card is not only a traditional debit card but also serves as a spendable blockchain wallet. It is only available in Japan for now, but will likely be expanding to other regions shortly.
“The legal currency storage function, credit card function and electronic payment service eliminate the time for block confirmation and realize the function of timely redemption and payment,” reads the release. “In the version of Softbank Card 3.0, the Wi-Fi function, the Fiat and digital currency switching buttons, and the information display screen are integrated. In the Wi-Fi module, the SBC implements a hot wallet when the Wi-Fi function is turned on, and a cold wallet when the Wi-Fi is turned off. The card is embedded in the world’s only cutting-edge technology battery (simply put a smart led screen on the SBC card which displays the balance of your card), which is paper thin, and can be used for three years.”
Essentially, the company is looking to make cryptocurrencies and blockchain much more accessible, similar to what Samsung or HTC have been doing with built-in Bitcoin wallets in their latest mobile devices.
“We are not doing simple cards, but are creating a flexible and faster life of the application scene and the future of payment integration. The SBC we built does not close to other encryption cards. You’ll know the black technology only after you used it,” said the Softbank SBC Project Leader.