eCoinConcepts, the creators of the BitStash, are to launch a Kickstater campaign in the hopes of raising $50,000. The company, founded by Trevor Murphy and Steve Swanson, previously received $500,000 seed funding in June of this year.

The device, which uses atmospheric noise to generate entropy¹, uses three tiers of BIP32 – one wallet for a mobile device, a second wallet for day trading or online shopping and the third, a cold storage wallet². The BitStash also supports the BIP 70 payment protocol.

Marketed as easy to use and hacker proof, designed to meet Federal Government data security standards³, users can access the BitStash via "hardened bluetooth" whenever they are in range of the device and it can also be configured to top up a mobile wallet with automatic balance management. The BitStash can set up additional wallets for friends and family if needed. The device and client software will be available but at this time, it's undecided if the hardware will also be open sourced.

The Kickstarter campaign⁴, which begins later this month on October 22nd, will use the raised funds to pay for initial manufacturing and completion of FCC and FIPS 140-2 level 3 certifications.

1. Keys derived from atmospheric noise, PBKDF2 extended with a PRNG seed on initial setup. ↩

2. LUKS encrypted-USB drive ↩

3. FIPS 140-2 level 3 certification. ↩

4. Not listed on Kickstater as of this time. ↩