Square and Twitter CEO Jack Dorsey said Square is “considering” developing a hardware portfolio for bitcoin
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
A hardware wallet, or “cold wallet,” is essentially an electronic device where you can store your cryptocurrencies offline. Online “hot wallets” or simply wallets (such as Metamask, Trust Wallet and Rainbow) are generally considered less secure.
This Friday (4), Dorsey discussed in a Twitter thread general questions about the direction of engineering for the hardware. “Are small monitors needed?” he asked.
“Waiting for mainstream customers to validate details on a small screen will likely not increase security and will likely reduce device reliability, increase cost, and decrease accessibility. Is the product better if a screen is not needed?”
Both Ledger and Trezor, two popular cold wallet makers, include small monitors in their products. Dorsey said Jesse Dorogusker, a former Square executive, would be helping him think about that kind of decision.
As to when he could decide whether to actually start developing a portfolio, Dorsey was vague. “We will update the topic with this information when we are ready,” he wrote. “Thanks!”
*Translated and edited by permission of Decrypt.co