San Francisco-based financial services company Square intends to launch a Bitcoin hardware wallet. The company's CEO Jack Dorsey shared the news on Twitter.
Dorsey says the building process from engineering to design is going to be open and with the community's cooperation. He posted series of tweets sharing more details about the project. In one of them, the businessman mentioned that it is important for the firm to create an inclusive platform with a non-custodial solution. Dorsey noted the current issues connected with custody management and opened discussions about safety, Layer 2 solutions, mobile app wallets, and so on.
Square is considering making a hardware wallet for #bitcoin. If we do it, we would build it entirely 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.— jack (@jack) June 4, 2021
Square is among major Bitcoin investors. In 2018 it presented Cash App which is a payments service for trading BTC.
The company's CEO, who is also Twitter's CEO, Jack Dorsey is a huge supporter of the crypto industry. During his speech at the Bitcoin 2021 conference held in Miami, he said that Bitcoin changes absolutely everything and that there isn't anything more important in his lifetime to work on.
Dorsey said if he weren't at Square or Twitter, he would be working on BTC. The entrepreneur even noted that if the coin needed more help, he would leave his companies for it. However both firms have a role to play, Dorsey added.