LAYER has collaborated with fin-tech start-up, Trove to launch a digital wallet and collaboration with. For the past year, the unhackable, un-losable cryptocurrency storage is made up of three parts – Coin, Keep, Safe. Working with the Trove app it can be used as a safer, way to store and use cryptocurrencies.
A Crypto Future?
Cryptocurrency use has been growing slowly but steadily since 2009, when Bitcoin was developed, and will soon be widespread as a form of currency. There are currently over 1384 different cryptocurrencies available. Bitcoin was the first cryptocurrency and remains the best-known and largest blockchain network, followed by Ethereum, Ripple, Bitcoin Cash, Cardano, and Litecoin.
LAYER partnership with Trove introduces us to a 3mm x 20mm stylish wallet that works by users unlocking the Coin using their ECG signature – a biometric method of heartbeat pattern. By doing so, the user will activate Bluetooth, which communicates with their smartphone allowing funds to be accessed. Unlike other cryptocurrency wallets, which rely on complex password systems, it is impossible to lose or forget the authentication for Coin, which is a great benefit, especially in my case.
The TROVE Coin has been designed to fit a user ’s personal style. They have done this by ensuring that it can be worn as a wristband, neck pendant, or brooch. Available in two materials; black aerated aluminium anodised aluminium, the Coin can be worn discreetly as a TROVE band made from a Kvadrat textile or a TROVE necklace, a metal loop and a minimal pendant, that magnetically attaches to Coin. You can also hide the Coin in decorative fascias – made from terrazzo, acrylic, or foamed ceramic – and wear it as a pendant. Lastly, the TROVE can also be worn as a simple magnetic backing that transforms the Coin into a brooch-like accessory.
“Unlike other cryptocurrency wallets, which rely on complex password systems, it is impossible to lose or forget the authentication for Coin.”
The Coin stored in Keep, a polycarbonate container – which is powered by a USB-C inductively charges the Coin. As for the TROVE app, your various cryptocurrencies and sell cryptocurrencies for everyday purchases. Users can easily see their spending history and how the value of the currency has changed over time, and also compare the performance of various cryptocurrencies, for example, Bitcoin compared to Ethereum.
For cryptocurrencies to become more widely used, they have first to gain widespread acceptance among consumers. I think that with features like a tracking function and an AI financial advisor there seem to be more pros than cons. Overall TROVE simplifies and amplifies the cryptocurrency experience as a modern fashion accessory, and addresses some of the limitations currently faced by cryptocurrencies – such as the fact that a user’s digital fortune can be lost if a password is forgotten, or that a hacker may ransack a virtual wallet.