Square may make a "hardware wallet" for Bitcoin

RDW 24/07/2021 325

Square may make a Bitcoin hardware wallet, Jack Dorsey said. In a 13-part Twitter post, the executive explained his thoughts on what a device would look like if Square released it. "Bitcoin is for everyone," Dorsey said. "It is important for us to build an inclusive product that brings non-custodial solutions to the global market."

To that point, any potential hardware wallet from Square would include some kind of phone integration. “An uncompromising focus on mobile interaction is likely to include the most people,” said Dorsey. At the same time, he acknowledged that your phone can be a significant liability, especially in the context of a cryptocurrency wallet. Dorsey also mentions Cash app integration as an obvious inclusion, but notes he’s not sure a potential standalone device would necessarily need a small display.

If it sounds like Dorsey and Square haven’t c

ompletely settled on what a mainstream Bitcoin hardware wallet should look like, that appears to be the point. “If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community,” said Dorsey.

Although cryptocurrency hardware wallets are not a new idea (we have even seen Some blockchain phones), but it is a device from Square that may be the main driver of mainstream adoption, especially now that other financial services companies like Venmo have accepted this technology. Hardware devices can also make Bitcoin tangible, which helps make it easier for ordinary consumers to understand the concept of cryptocurrency. If Square finally decides to implement this idea, Dorsey promises that the company will set up Twitter and Github accounts dedicated to the project so that people can understand its progress.

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