Twitter CEO Jack Dorsey’s Square Is Considering Making Bitcoin Hardware Wallet

<div></div> <p>Jack Dorsey on Friday put out word that his financial payments startup Square is thinking about making a real-world wallet for safely pocketing Bitcoin.</p> <p>Hardware wallets can be used to store the digital currency offline, synching with applications for transactions on the internet as needed.</p> <p>Another option for cryptocurrency owners is to use “virtual” wallets, essentially trusting third parties to keep money safe and using passwords to access funds.</p> <p>“Square is considering making a hardware wallet for <a href="https://gadgets.ndtv.com/tags/dorsey" target="_self" rel="noopener">Bitcoin</a>,” Dorsey <a href="https://twitter.com/jack/status/1400839179513339905" target="_blank" rel="nofollow noopener">said</a> in a string of tweets asking for feedback on the idea.</p> <p>“If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community.”</p> <p>Dorsey reasoned that Bitcoin is a currency for the masses, and that it is important to have ways for people to hold it that don’t involve entrusting it to outside parties.</p> <div align="center" readability="6.7245901639344"> <blockquote class="twitter-tweet" readability="6.7245901639344"> <p dir="ltr" lang="en">1/Bitcoin is for everyone. It’s important to us to build an inclusive product that brings a non-custodial solution to the global market. Much respect to everyone who has gotten us this far. What are the biggest blockers to get a non-custodial solution to the next 100M people?</p> <p>— jack (@jack) <a href="https://twitter.com/jack/status/1400839180503158784?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">June 4, 2021</a> </p></blockquote> </div> <p>“The exchange you used to buy your Bitcoin probably attends to your security with good intent, but circumstances may reveal ‘custody’ actually means ‘IOU,’ ” tweeted Dorsey, who is also the chief of <a href="https://gadgets.ndtv.com/tags/twitter" target="_self" rel="noopener">Twitter</a>.</p> <p>“Deciding to take custody, and security, of your Bitcoin is complicated.”</p> <p>He envisioned a Bitcoin wallet that makes it easy for people to use some of it for shopping, say through their smartphones, while protecting the rest of the cryptocurrency.</p> <p>“We can imagine apps that work without <a href="https://gadgets.ndtv.com/tags/square" target="_self" rel="noopener">Square</a> and maybe also without permission from <a href="https://gadgets.ndtv.com/apple" target="_self" rel="noopener">Apple</a> and <a href="https://gadgets.ndtv.com/google" target="_self" rel="noopener">Google</a>,” he continued, referring to the makers of the world’s big two smartphone operating systems.</p> <p>Square will set up accounts at Twitter and software developer community website <a href="https://gadgets.ndtv.com/tags/github" target="_self" rel="noopener">GitHub</a> dedicated to a Bitcoin wallet design if it decides to go ahead with the project, said Dorsey.</p> <hr> <div> <em>Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on <a href="https://gadgets.ndtv.com/tags/orbital">Orbital</a>, the Gadgets 360 podcast. Orbital is available on <a href="https://itunes.apple.com/in/podcast/orbital-gadgets-360-podcast/id1121036073" rel="nofollow noopener" target="_blank">Apple Podcasts</a>, <a href="https://podcasts.google.com/feed/aHR0cHM6Ly9jZG4uZ2FkZ2V0czM2MC5jb20vY29udGVudC9kYXRhL3htbC9vcmJpdGFsLnhtbA" rel="nofollow noopener" target="_blank">Google Podcasts</a>, <a href="https://open.spotify.com/show/1TQIHsTESxrsHleJVhUKcr" rel="nofollow noopener" target="_blank">Spotify</a>, <a href="https://music.amazon.in/podcasts/e3a8ca64-3005-4427-a89e-b3e8ec828c3b/Orbital" rel="nofollow noopener" target="_blank">Amazon Music</a> and wherever you get your podcasts.</em> </div> <p>The post <a rel="nofollow" href="https://patabook.com/technology/2021/06/05/twitter-ceo-jack-dorseys-square-is-considering-making-bitcoin-hardware-wallet/">Twitter CEO Jack Dorsey’s Square Is Considering Making Bitcoin Hardware Wallet</a> appeared first on <a rel="nofollow" href="https://patabook.com/technology">Patabook Technology</a>.</p>

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