Square CEO Jack Dorsey said the payments firm is considering developing a Bitcoin hardware wallet. The CEO revealed Sqaure’s intention in a Twitter thread posted on the 4th of June. According to Dorsey, the plan is to build the hardware wallet “in the open, from software to hardware design, and in collaboration with the community. We want to kick off this thinking the right way: by sharing some of our guiding principles.”
Dorsey stated that the hardware wallet for Bitcoin should be accessible to users on their mobile phones. He also mentioned that the wallet might be integrated with Cash App but built on an app that is not owned by Square. Dorsey said the company may consider apps that do not require permission from Apple and Google.
Furthermore, the CEO said layer-two is important for the Bitcoin hardware wallet development. He continued:
“The orders-of-magnitude growth we imagine requires a mix of custodial, off-chain, and second layer solutions that allow people to ‘get off of 0.’ What tech investments can enable seamless, scalable, L2 native support for a hardware wallet?”
In conclusion, Dorsey said that he would discuss the possibilities of developing the hardware wallet with the team and the head of hardware at Square, Jesse Dorogusker. He added that the Square team company would set up a Twitter and GitHub account if it eventually decides to build the wallet.
Image Credits: Pixabay
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
