The acceleration and adoption of technology has allowed us as consumers and businesses to experience the world in a new way. Not only has technology manifested into a gateway to opportunity for all, it has also shifted the world into a new way of working and playing.
The integration of technology has increased collaborative work which has benefited many, whilst birthing a range of new technologies such as wearables. Wearables have been introduced into the mainstream market thanks to their ability to work in synchronization with our smartphones and devices, becoming extensions of them.
Their ability to simplify daily tasks and help individuals monitor their health is what has made them so popular and attractive to a wide variety of consumers. The market for wearables has considerably grown over the years and continues to grow as designs and concepts for new wearables increase.
The Covid-19 pandemic has elevated the interest and sudden need for wearables, breathing new life into the market. The pandemic has increased the demand for better understanding health and so the global wearables market has remained resilient to the effects of the pandemic.
As the interest for cryptocurrencies and wearables increases, it is only natural we see a fusion between the two, and that's what startup Eaze has been working on. Eaze have released a public beta bitcoin payment app that is designed to work with wearable technology. Potentially incorporating its technology into smart glasses like Google Glasses or Amazon Echo, making payments easier and faster.
The app ‘Nod to Pay’ was designed for Google Glasses and supports bitcoin wallets such as Coinbase and Blockchain, with future wallets to be added to their catalogue. Google Glass has a unique user interface which makes the feature slightly different to set up in comparison to other smartphone payment apps, not forgetting to mention that spending bitcoin also requires its own process making it a little more complex.
Users will need to link their wallets to the glasses by scanning a QR code then use a voice activated app saying ‘OK Google, make a payment’. The device will then scan the QR code of any point-of-sale application and display the details of it on the Glasses display, allowing the consumer to see what is being purchased. To confirm payment the user will then need to nod twice to send the payment.
Although this is a novel way of making payment, it is vulnerable to breaches which is why Eaze plans to implement additional security measures which include setting a spending limit and PIN authentication to ward off any fraud. The payment innovation offers hands free payment solutions for those who own Google Glasses.
The Future of Wearables
Wearable tech as we know it today is set to undergo a unique and unrecognisable twist in the near future. As more organizations become interested in wearables and the technology used to create wearables become more sophisticated and discrete, its application will be elevated, opening up its adoption into a range of different industries.
Currently, flexible and folding screens are silently making huge leaps of progress indicating we could see smart watches turn into wearable bands with full screens. As they become smaller, wearable scold can also be used in the fashion industry.
Users may be able to measure vital health and body functions by simply wearing a shirt infused with sensors that help to record heart rate and pulse, sleeping patterns and recuperate, totally eradicating the need for wrist wearables. Responsive garments are also set to be the future of fashion as clothing will be able to reflect and respond to sudden environmental changes.
As interests peak it's only natural that we see new wearables hit the market. The pandemic has proved there is a huge appetite for wearables. As we have experienced a virus like Covid-19, there are prospects for future wearable signs to induce features that will help keep us safe from experiencing another pandemic.
Introducing air monitors into wearables can help give atmospheric readings helping to decrease the spread of virus and other airborne disease that might help make for a healthier population. There is no doubt that wearable will be the future of technology but it is also wise to consider the effects of the pandemic on manufacturing which has slowed the pace of production down which means the future may be slightly delayed.