PRISMicide: AHardware Wallet

PRISIMicide is an open-source platform based on a smart card and a Bitcoin hardware wallet. Currently, the project can be funded through IndieGOGO. The total to be raised is $40,000 by August 31 which seems ambitious, but could be completely plausible considering what the project is supposed to do, as well as the pictures shown by the project. PRISMcide consists of open source smart cards and of a small portable player that can be used with Android and iOS smartphones and tablets via bluetooth and also, via USB with Windows, Mac OS and Linux computers. PRISIMicide is a non profit organization created by regrouping a small team of security experts in order to develop what could be the most secure Bitcoin Hardware wallet while basing itself off of smart cards and a portable open hardware reader.

PRISMicide for Bitcoin allows each user to secure its private key within a smart card. These private keys are then used directly via the smart card to sign the transactions as requested by its owner but will never be exposed to the potentially compromised computers, smartphones or tablets that are used to perform these transactions.” The idea of a bitcoin hardware wallet looks amazing as it could become the securest way to store your bitcoins while being able to use it on the go as well. The smart card also hold a BIP 32 seed meaning that if this seed is backed up, all private keys generated by the smart card are backed up as well. This is very useful when considering how private keys have been stolen in the past. A great way to increase security for the people who want to hold their bitcoins through this hardware wallet and respective smart card. Other than this, PRISMicide will also have multisig support meaning that an address is associated with more than one private key in order to increase security further.20140625163601-main_580

Here are the specifications for the hardware wallet which are suspect to change:

– ARM Cortex M4 family CPU (2Mo Flash)
– Bluetooth 4.0 (BLE) module
– Micro USB port for charging battery and PC/MAC communication
– Full USB port as expansion slot
– 3.2″ TFT 240*400
– DecKa OS for Cortex M4 (open source branch)

Smart Card: 
– ARM secure core based chipset
– DecKa OS for ARM secure core (open source branch)

The reasons why the team decided to bring upon themselves such a project is for the following reasons as quoted from the IndieGOGO campaign:

●  the need for effective security tools to prevent hackers or isolated scrupulous government programs (i.e. NSA/PRISM scandal) attacks

●  the absence of fully open source solutions that use secure reliable elements such as smart cards

●  the low security software environments used by smart phones and tablets

●  the increase in piracy-related attacks linked with crypto-currencies like Bitcoin

Images provided by IndieGOGO website

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