Jack Dorsey Is Preparing To Produce Bitcoin Hardware Wallet!

Jack Dorsey, CEO of popular social media platform Twitter, announced that he wants to produce a Bitcoin hardware wallet.

Jack Dorsey is preparing to produce a Bitcoin hardware wallet. Dorsey, the founder of Twitter, announced in a post that he wanted to produce a Bitcoin hardware wallet from the payment platform Square, another company he founded. Stating that he dreams of a wallet that is compatible with mobile phones, fast and where everyone can easily access their funds, Jack Dorsey said, “We imagine an application that can work without Square, perhaps without the permissions of Apple and Google. What about you?”

Dorsey, who shared a long series of tweets on the subject on Twitter, said:

“Bitcoin is for everyone. It is very important for us to offer a solution created without hiding to the global market… We would like to thank and pay our respects to everyone who brought us here. So what are the barriers to bringing a solution to the next 100 million people where they won't bother with hiding? 'No key, no cheese' The exchange you use to buy Bitcoin may probably care about your security in good faith. However, in some cases, the fact that the 'hidden' is a debenture may also arise. Storing and securing your Bitcoin is a complicated matter. What's the #1 problem here? Hiding does not mean 'all or nothing'. We can probably simplify retention as 'assisted personal retention'. Support requires great product design: as little setup time as possible, reliance on existing devices, and end-to-end security. How should we think about such supported solutions? Most people access the internet from mobile devices. The solution model we produce should provide an excellent experience when using a mobile device, despite its shortcomings and obligations. Providing seamless interaction with mobile devices, the model will attract many people. So what are the dangers here? Combine feasibility and security. Make it easy for customers to spend their funds, which are at their fingertips and can be accessed quickly, by simply allowing them from their phone. At the same time, hold the remaining funds with a tighter, less accessible but safer control mechanism. So what's the right balance here? Security is a complex affair. We think that security issues with any wallet come from 3 places: transportation errors ('gold under water'), security bugs ('stolen gold) and human errors ('confiscated gold). What other threats did we miss? Today, recovery mechanisms are burning money. Customers need to protect their recovery information from damage, loss, theft and keep it secret. In practice, this has not yet become mainstream. We don't want any more passwords on note papers. So what is the best solution we should consider here? Are small screens so necessary? Expecting mainstream customers to verify details on a small screen is unlikely to improve security. It's even more likely to reduce device security, increase cost, and reduce accessibility. If there is no screen, would the device be more secure? Trust cannot be demanded. Today, customers are heavily dependent on infrastructure functions provided through 3rd parties. We want mainstream customers to be able to trust us whenever they want, but we won't exclude those who don't. How should we think about this situation? Tier 2 solutions are prime imperatives for growth. Growth at the level we dream of, enabling people to get rid of '0'; storage requires a mix of off-chain and second-layer solutions. What technological investments can be made for a seamless, scalable, Tier 2 hardware wallet? Cash App integration is mandatory for us, but it is only part of the solution. A smooth experience most likely depends on an application created specifically for this situation, but the application does not need to be from Square. We imagine an application that can work without Square, perhaps without the permissions of Apple and Google. What about you? However; Jesse Dorogusker, I and our team will continue to listen and talk. And we will create a special Twitter and GitHub account. We'll continue to update this thread with information when we're ready. Thanks!"