Bitcoin Wallets: Stressful and Demanding Concentration

applepayYes, the automobile is a wonderful invention.  Actually, it is probably 1,000 inventions all contributing to a vehicle which moves us about in comfort effortlessly.  Blockchain and Bitcoin are wonderful inventions, too, with the promise of doing miraculous things for us.  However, at the moment, you cannot say these work with little or no effort.  In fact, it takes a great deal of effort and concentration, often fraught with stress and uncertainty.  Before Bitcoin can become a natural part of our lives, much more technology needs to be brought to bear upon the problem.

As secure as the blockchain itself is, going into or out of the blockchain wallet is still dangerous and difficult.  It has to be as easy, thought-free, and fast as taking cash from your leather wallet or putting money in a piggy-bank.

The Wallet on my iPhone uses NFC (Near Field Communication) which allows two electronic devices, my iPhone and the merchant’s card reader, to communicate with one another by bringing them within 4 cm of each other.  The Wallet also makes use of the iPhone’s fingerprint authentication to validate me as the user.

So far, the best blockchain wallets I’ve seen use text SMS messages to copy/paste public addresses, or, use the iPhone’s camera to take a picture of QR barcode to deliver the same public addresses to the wallet.  Neither is as good as NFC or fingerprint authentication.  A first-rate wallet would have to use all of these technologies to work intelligently and quickly.  The user must be able to pocket Bitcoin without a second thought, with one hand tied behind his back, underwater, covered in mud with the lights out. It has to become THAT easy.