Through Twitter, the social network of which he is CEO, Jack Dorsey announced that fintech Square is considering creating hardware wallets for cryptocurrency bitcoin. These pen-like solutions allow you to store encryption keys, presumably a more secure method.
On Twitter, Jack Dorsey emphasized that if the company goes ahead with this option, “everything will be done publicly, from software to hardware design, in collaboration with the community.”
Square is considering creating a hardware wallet for # bitcoin. If we do, we will build it entirely in the open, from software to hardware design, and in collaboration with the community. We want to start this thinking the right way: by sharing some of our guiding principles.
– Jack (@jack) June 4, 2021
In the same thread of tweets, he noted that “Bitcoin is for everyone” and is therefore “important” for Square to “create an end-to-end product.”
With so many people accessing the internet on mobile devices, the company’s plans anticipate that any solution that might be born will need to be well integrated into these devices “despite all the limitations and risks”.
Dorsey also noted that this wallet can be combined with Square’s Cash App, whose bitcoin sales are already a source of revenue for the company.
Jack Dorsey indicated that in the future, Square intends to continue talking about this project. For this purpose, a Twitter account dedicated to the topic will be created, as well as an account on Github, should the project progress effectively.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
