Biometrics, a bit behind the curve

‘I FORGOT MY PIN’: AN EPIC TALE OF LOSING $30,000 IN BITCOIN

This is why we have biometrics.  The user needed to recover his PIN, and had lost the recovery clues.   Absent biometrics, get a bonded insurance company, let them print out the recovery and hold it in a vault somewhere.  The same insurance company can then be used to cancel upon theft or lost cash card.  This service is coming on line.  What is the real recovery?

No recovery system needed.  Money is, by definition, the intelligent rock in your dominant hand.  Ultimately our cash cards have to know when they are being held.

I still like my thumbprint laser skin reflector, four position button.  It verifies the thumbprint, and verifies a small layer of blood vessels. Then we have one click shopping, fill the basket and click the secure cash card on the way through, a cash transaction.

Handprint would be nice.  Disconnect biometrics from the button and the card knows when the proper hand has it, by wrinkle print and laser built into the body of the wallet. You grab it an it lights up the hand momentarily, capturing a 3-D image of the blood vessel pattern.

For death, we must build into the secure element a 'will' function.  The cash card takes a pretty good guess that something is wrong  if it is not held for some long period.  The ubiquitous timeout that must exist for every protocol.  Biometrics is a must.

Who makes this stuff? We have finger print readers already.  Let me pre-order a billion copies of the biometric tech that solves this  issue.
 If the sand does not hear from you or your card
We still want the paper back up, we have the problem where the card gets destroyed, we have to go to a notary.  For recovery.  a vault somewhere is the ultimate, non-digital recovery, ink and paper lives on!

Completing the boundary conditions, consider if you and your card are destroyed.  The  notary must have a timeout, and a next of kin function and ink and paper backup.    At some point the human notary and ink and paper take charge.

Activating your hardware wallet. You should be going to the ink and paper notary for this, making the connection there and now.  Do your Trezor set up normally, but it still does not work until an official notary gives the go ahead. This is mostly the way we do it today, establish identity via notary.

Put the notary at the foundry.  Make the insurance deal as each device chip comes off fab. The bonded insurance company takes a sealed ink and paper recovery key word. It lives in a vault, not viewed until a legal recovery is needed.

The resources protected are mostly your active accounts at the pits, maybe hundreds of them.  Your apps cannot instruct the trading bots without your biometrics. Losing your hardware wallet is not more of a pain than losing your leather wallet.