Maybe we disagree on that definition: I guess it is hardware, and it exists for security, and it's a module.
I admit it's unfair to compare this with a $10,000 HSM from Thales or Safenet, of course. But it seems like a smartcard based solution might be better on that front, as they're designed to withstand physical attacks.
You can defend against some side channels (timing from the host, for example) but I was thinking more like EM/RF emissions.
I want to be clear that I think this is still a great project, and I commend your work so far!