Friday, June 18

Square Plans to Make Bitcoin (BTC) Hardware Wallet

square

According to the tweet shared by Jack Dorsey, the famous payment firm Square is planning to make a hardware wallet for Bitcoin (BTC).

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While speaking of some principles, Dorsey stated that it would be built in a completely open manner. Dorsey highlighted the importance of creating an unattended solution, emphasizing that Bitcoin is built for everyone:

“It is important to us to develop an inclusive product that brings an unattended solution to the global market. Endless respect to everyone who brought us to this point. What are the biggest obstacles to finding a non-custodial solution for 100 million people?”

While the planned wallet blends usability with security, it also includes a Tier 2 solution that Dorsey believes is essential for growth.

The wallet that Square will produce will likely be screenless to make it more convenient and accessible. The company will also try to provide a “perfect experience” to mobile users.

Paris-based Ledger and Prague-based Trezor are currently the two largest companies in the cryptocurrency hardware wallet market. We’ll see what Square can do against these two rivals.

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