Twitter co-founder and CEO of payments firm Square, Jack Dorsey, has revealed that his firm is looking at building a bitcoin hardware wallet in collaboration with the community. Dorsey revealed this in a tweetstorm, saying he’d like to share some “guiding principles” related to this potential venture.
Dorsey: ‘Square is considering building a hardware wallet for bitcoin’
On Friday, Jack Dorsey tweeted It discussed the possibility of Square creating a bitcoin hardware wallet, and several theories guided by the firm when it came to the topic. The Twitter and Square founder pointed out that what the company builds should be “open,” as he added that “Bitcoin is for everyone.”
“Square is looking at building a hardware wallet for bitcoin. If we do, we will build it completely open-sourced, 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. Bitcoin is for everyone. It is important for us to create an inclusive product that brings a non-custodial solution to the global marketplace,” said Square. said the CEO.
Dorsey then gave those who have already pioneered the non-custodial wallet space props, asking his Twitter followers “What are the biggest barriers to the next 100 million people getting non-custodial solutions? ” Several people answered Dorsey’s questions and some of the responses discussed hardware wallets without iOS support.
“iOS support. Trezor, as of now (for good reason) doesn’t support iOS. If you solve this solvable problem, you gain a bigger share of the market,” one person told Dorsey. Twitter thread replied.
“Detention should be all or nothing,” Dorsey continued. “We can probably make custody easier through ‘Assisted Self-Custody.’ Assisted requires great product design: minimal setup time, reliance on existing equipment, and overall reliability. How about us with Assisted Solutions? should think?” Square’s CEO asked. He further added:
Most of the people use internet on mobile. Any solution we build should provide an excellent experience while using mobile despite its drawbacks and liabilities. The non-compromising focus on mobile interactions is likely to engage most people. What are the dangers here?
Dorsey gets harassed by a convention attendee in Miami
After Dorsey published his formula with about 12 different points, he said Square and his team plan to “continue the conversation.” He further added that if the firm decides to build a hardware wallet, a dedicated Twitter account will be on the way and a Github repository will also be there.
“We will update this thread with that information when we are ready. Thank you,” Dorsey concluded.
Dorsey’s hardware wallet tweet has garnered thousands of likes and retweets since the announcement of Square’s potential hardware wallet venture. The Twitter CEO also mentioned that Layer 2 capabilities and Cash App integration with hardware wallets are also important guiding principles.
— Disclose.tv (@disclosetv) 4 June 2021
Meanwhile, following the announcement of the hardware wallet, Dorsey attended the Bitcoin 2021 conference in Miami this weekend and was harassed by a conference attendee On “censorship” and “interference in elections”.
“Why Is Jack Dorsey On Stage At The Bitcoin Event For The First Time?” a person tweeted In response to the hacking video.
What do you think of Square thinking about building a bitcoin hardware wallet? Let us know what you think about this topic in the comment section below.
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