MEVU – Bitcoin wearable wallet for making payments with gestures
Geeks have always with fascinated by the concept of digital currency, and Bitcoin is the answer for that. There have been numerous uses of Bitcoin currency in the past and now a new approach to integrating Bitcoin with electronic wallet system is here. Combine these two with the buzzing wearable technology and you’ve got the next generation payment method up your sleeves. MEVU, a wearable technology startup by Apurv Mishra has developed a proof-of-concept bracelet that uses gesture recognition to make small payments, like a tip in restaurant, perhaps.
The Bitcoin transaction is made using Bluetooth Low Energy (BLE) by transferring the transactions to point of sales (POS) devices. These BLE devices include iOS devices and added support for Android devices will follow suite.
MEVU is currently only used for making small transactions as making huge payments with just gesture has its own risks. But combining this wearable device with some other full-proof authentications methods could make this device more secure for payments.
The potential applications of MEVU include: buying a cup of coffee in restraint or maybe making a hand gesture to make parking payment.