71–80 of 356 posts
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That's exactly what I came here to say - if this can do chip and PIN, then can't we assume chip and PIN is broken? Cloning a mag stripe is trivial, cloning chip and PIN should be as close to impossible as is feasible.
Smart cards (and NFC) are designed to make it nearly impossible to extract the private key/encryption keys.
They say this supports chip-and-PIN, but I don't believe them until they explain how. If I have a chip-and-PIN card from my bank, the chip has an unreadable secret used to generate one-time cryptograms to verify the authenticity of the card. There's no way to get that secret onto my Plastc card. You'd need partnerships with banks to get a new secret the way Apple Pay does. Without those, this sounds like it'll be use…
That's exactly what I came here to say - if this can do chip and PIN, then can't we assume chip and PIN is broken? Cloning a mag stripe is trivial, cloning chip and PIN should be as close to impossible as is feasible.
• "Chip and PIN is Broken" (Murdoch/Drimer/Anderson/Bond, 2010) [PDF] http://www.cl.cam.ac.uk/~sjm217/papers/oakland10chipbroken.p...
• "Chip and PIN is Broken" (Murdoch, 27C3, 2010) [Video]: http://www.youtube.com/watch?v=Ks_w352BS-Q
• "Chip & PIN is definitely broken" (Barisani/Bianco/Laurie/Franken, 2011) [Video]: http://www.youtube.com/watch?v=JABJlvrZWbY ...and slides [PDF]: http://dev.inversepath.com/download/emv/emv_2011.pdf
Earlier quoted context omitted.
That's exactly what I came here to say - if this can do chip and PIN, then can't we assume chip and PIN is broken? Cloning a mag stripe is trivial, cloning chip and PIN should be as close to impossible as is feasible.
Smart cards (and NFC) are designed to make it nearly impossible to extract the private key/encryption keys.
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On the bottom of their wallet tab [1], they list several participating banks, so it sounds like they might have those partnerships you mention. [1] https://www.plastc.com/wallet
Question is what exactly does "participating" means. Banks generally hate anything that takes away their branding. Less sleek of this -- i.e. reprogrammable Visa cards -- have been around for a few years but banks never supported them, again because of branding.
How in the world would remote wiping a lost card work? It only supports bluetooth from what I can find, so you'd have to be nearby?
I'm guessing it pairs with your phone, and automatically wipes once it disconnects (maybe after some timeout).
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This and Vessyl feel like the harbingers of Silicon Valley doom. Products that solve no meaningful problem and cost orders of magnitude more than their 'dumb' alternatives. A waste of good brains.
But the Apple watch is blessed by Jonny Ive Himself!
Credit cards are different. They are small, thin, and never run out of batteries.
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I can't help to think this and Coin are each a solution in search of a problem. Do you know many people that use more than 3 cards regularly? If the norm was to have so many cards they barely fit in your wallet this would be perfect.
Well - I carry 3, and would carry 7 if I wasn't trying to slim down my wallet. Those 3 are: * An personal AMEX cashback card, that gives me a very nice 5% back in certain categories, and 1% back on everything else. * A Visa Airline miles card, for places that don't take AMEX or travel spending where I earn 2x or more miles. * A business Visa credit card for the business my wife owns. The other cards I'd carry if I wa…
One I use for everything, until their idiotic fraud department is confused as to how I'm spending money in Chicago after taking a flight to Chicago I bought with that card.
Another I use as a backup, for this situation.
Debit card, for extracting paper money from ATM machines.
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Plastc also supports NFC
I'm calling shenanigans after reading their specs. Here are my reasons: NFC + EMV secure elements are issued by banks and can't be reprogrammed. You can't switch between them on the fly. You can only house "multiple" EMVs if you can by some grace of god magic convince the different banks, and Amex to take your card to their facility and program it with their secure info and then give it back to you. E-ink displays ar…
1. eink can be made on flexible plastic and be very thin, and cheap too (see http://www.engadget.com/2008/09/08/esquires-e-ink-infused-ma...)
2. charge pumps can be made out of discrete components and the largest part is a coil, which can easily be laid flat and thin. You can also charge a ceramic cap (low self discharge) slowly and use it when you need to change screen contents, thus allowing you to have a smaller charge pump yet
3. PCBs can be made very thin (a cheap pcb fab I use will make 10 PCBs for $10 for me at 0.2mm thickness). And you can also make them on a flexcable that is thinner yet.
You are right about EMV though. It is supposed to be uncloneable.