CrowdFunding, OneCard, the Coin of China,


Cnet Asia, As fast as buzzworthy gadgets hit the press, a Chinese adaptation will also hit the shelves. Coin, a ubiquitous digital credit card, has met its match with China’s version of the digital credit card, named OneCard.

While Coin has successfully crowdfunded early “investment” from anxious potential users, the campaign has been met with plenty of controversy, which stemmed from hawking a misleading promotional ad that overpromised.

OneCard is following suit by taking the crowdfunding strategy to drum up both pre-sales and interest on China’s version of Kickstarter, Demohour. A prototype of the device doesn’t yet exist, although the OneCard team assures that a working prototype will be ready by the end of January 2014. Even more surprising is an ambitious date for a completed product — it’s supposed to be developed and shipped to backers by March 2014.

As for the specs of the digital card itself, the 3.7mm thin device not only promises to store your credit and debit cards, but it’ll do its users one better. Loyalty and gift cards will be supported, and will also triple as a vessel for Beijing and Shanghai’s integrated public transportation (subway and bus) cards. Its battery is expected to last two months of normal use (meaning three swipes a day). And backers can get their cards personalized.

Since the emergence of Coin, safety has been a major concern, and OneCard claims that the device has several security measures in place to protect your finances. The card needs to be activated with a password. However, if several failed attempts are made, the device will instantly wipe the digital cards’ saved information clean. OneCard will require users to manually punch in their debit and credit card authentication passwords, which will not be saved on the device.

Of course, there are always ways to hack any digital device despite the features listed above. In a country like China where the money in your account isn’t insured, security is a critical feature in an all-in-one card.



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