I have access to mobile phone engineers and manufacturer and

it's a neat idea and would be very useful but I think the potential market right now is too small to justify it

Honestly the market only needs to be 1000+ to get a prototype done.

>>2342700
>drown phone
>lose cyrpto
Shitty idea but your heart is in the right place.

>>2342709
Keep in mind that it would take 6+ months to get something like this through to production and by that time I expect the market for cryptos and something like this to be well and truly heating up.

>>2342717
IP68 rated phone with detachable crypto harddrive?
Thanks anon

It would be a bit simlar to the "secure enclave" recent iphones have, also I read about some android wallet using a specialized chip for storing the wallet but I'm not sure what it was.

>>2342729
You are going to need some kind of sever backup or as crypto becomes mainstream phone theft is going to become a major issue.
Right now I can lose my wallet, they get the cash and can spend $2000 on my card then they can't do anything for 24 hours which gives me time to contact the bank and the bank covers upto $2000.
If they get my crypto everything is gone and there is nothing stopping them transferring everything to their wallet.

Security is going to be the killer.

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>>2342765
Yes indeedy. Security is #1 until quantum computing comes about and then everyone shits themselves and almost all systems are made redundant.
What about something like a smart tag that holds your PK so you have to have physical control of both to unlock wallet?

So a double-triple layer of security.
Physical button to activate cyrpto hd
6 digit pincode to open a time window
Smart tag on key chain to unlock with PK
??

Thanks for the feedback anon, appreciate it

>>2342863
That actually sounds really good, just need to store the coins online somewhere so that lose of a phone doesn't = lose of access to wallet.

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>>2342881
hmm yeah I'm having trouble getting my head around storing them online somewhere. That would kind of defeat the purpose of a hardwallet wouldn't it?

>>2342881
I'd probably want to go with a secondary mirror wallet to keep at home rather than storing online.

I'm not all that familiar with the existing hardwallets desu but I figured having one inside a phone would simplify things a lot. What happens if someone loses their hardwallet now?

>>2342914
Yes but it is the only way to keep your coins secure from phone theft or physical damage.

If you had RFID that was only active when a button is held that would be great for both crypto and fiat greatly increasing your market and you can easily market it by showing how easy it is to steal RFID data.

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>>2342940
Depends on the coin, some require the wallet.dat file to be backed up, loss of this = loss of everything. Others use a pass phrase to access your wallet than is stored on a server or the blockchain.
The pass phrase system is the only one that allows you to recover from complete loss, eg. house fire but requires you to remember / safely store the code.
I'm planning to stamp mine into a steel block this weekend so even in the case of fire I can sift through the ashes and recover my wallet.

>>2342863
Android and iPhone both support pretty secure fingerprinting hardware. You can use that to confirm a transaction along with a pin. If you want more, implement otp authentication with an existing solution like yubikey.

>>2342881
If you drop your regular wallet in the Atlantic it's gone. Diff for crypto is you should have had your recovery key on paper in a safe somewhere.

>>2343082
>If you drop your regular wallet in the Atlantic it's gone
The difference is I rarely have over $1,000 cash in my physical wallet while I often have over $20,000 in my digital wallet.

Your comparison is more like dropping your bank including all branches and shareholders into the Atlantic.

>>2342700
It's not exactly groundbreaking, but it might be pretty profitable if you target the right audience and connect with the right people

Thanks for your help anons. All valid points made.
I'll have to dig a bit more into the working of the existing hardware wallets and current wallet recovery methods or lack of to try to come up with something a bit innovative and simple to use but very secure.

>>2343119
You shouldn't carry that much on you. Use separate wallets. Keep one fully offline with the majority of your funds and only carry what you need for the activity you plan for the day. No different than how it is with cash. Again, the benefit is your cash isn't encrypted or backed up. If you drop your wallet while pushing a liberal out of your helicopter, then your reaction should be "oh shit, I guess I'll need to visit my safe to get the recovery key".