In the spirit of Google Glass, cell phone watches, and Bluetooth Earrings, Bitcoin has finally entered the fashion world with a wearable wallet. MEVU Labs, headed by 23 year old founder Apurv Mishra, has developed a flexible bracelet that processes bitcoin payments when the user makes a simple gesture in the air.
A demonstration video on MEVU’s website demonstrates the accessibility of the bracelet as people buy a cup of coffee, pay for parking, tip for free Wi-Fi, and donate to a charity (through glass!) with BTC, altcoin (possibly litecoin or dogecoin), or other crypto-currencies, all without taking out a wallet or cell phone.
Completing microtransactions (defined usually as less than $20) are the selling point of the bracelet. Mishra believes that dealing with tedious QR codes when making small transactions such as tipping is a shortcoming for digital currencies. The convenience of a simple flick will hopefully prove to be more appealing.
Of course, Bitcoin wallets using iOS and Apple haven’t been the best of friends lately. MEVU realizes the absence of this market but is currently developing the software to be compatible with Android.
The MEVU bracelet uses Coinbase’s wallet API and Alive OS, where sensors let the technology integrate wearable technology and crypto-currency usage to allow users to pay for things with a hand gesture in the air. By combining software, hardware, and web automations, MEVU is building technology that combines 3D motion sensing, voice feedback, context awareness, gesture recognition, motion sequence editor, and glanceable displays.
The wearable technology world is almost impossible to predict. Pre-orders for MEVU bracelets are slated to begin within a month. Will the fashion accessory take off or make it to the bottom of the hamper? What do you think?