I think using NFC ring for using Nxt is a perfect choice. Nxt devs will help you with any questions regarding integration. Right now, useful info about Nxt can be found here: https://wiki.nxtcrypto.org/wiki/Main_Page or whitepaper: https://docs.google.com/document/d/1BWVPUsyS6G4gIyPXNO_XFoszhzP6jJRGe8t--RtpMkY/edit
hands me the decive to enter my PIN.
Would be great to avoid giving away the PIN to anyone looking. Or if the hardware is cloning. There may have been a bluetooth-based ring up for pre-order (Kickstarter?) with a display, which could solve some of this. But generally just pre-approving myself with a budget for coffee-places, another for lunches, etc would allow payments without PIN in these places.
Another option is to just store the keys on your ring and use them to interact with your mobile phone so your mobile phone never stores your private key
Sorry, but storing a complete private key on the ring is probably a bad idea. Since the merchant taking payments are surely funneling all payments via some bank or payment processor, they could just send your public ID and let the remote payment processor handle things. They could do an instant debit or even a delayed credit transaction. You could have traditional (and costly) option to dispute the transaction.
With banks testing contactless payments (NFC) for sums under 25EUR, the same could be done with NFC rings, but that would surely mean the ring must use other NFC chips and the whole process would probably get more expensive. The brave could perhaps dare to extract the active part of a Paypass and try to squeeze that into a ring. But it'd surely be illegal for the stores to receive a payment unless you have an unharmed card with your signature etc etc. So, trouble.
I don't believe it was hacked in the end, certainly can't find any follow up on it.
The ring is readable from an extremely limited distance, don't fall into the trap of thinking of it like just another NFC tag.
Hi, I've deleted one of your posts because double-posting is a little pointless.
At the moment the NFC Ring isn't set up to perform payments, though you could conceivably put your bitcoin receive address in and use it that way.
In the future there may be something publicly available to make payments with, but it hasn't been made yet.
If you're asking, "can it be used to make payments with BitCoin", then the answer is yes - I use mine as my BTC wallet.
If you want to make a paypass/paywave/swipe'n'go payment like your credit card then there's another thread you should be watching.
Note that this is a new NFC Ring, not one of the NTAG variants.
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