Jack Dorsey said on Friday that his financial payments startup Square is considering making a real-world wallet to securely pocket bitcoin.

Hardware wallets can be used to store digital currency offline and synchronize with transaction applications on the Internet as needed.

Another option for cryptocurrency owners is to use a “virtual” wallet, which basically trusts a third party to ensure the safety of funds and uses passwords to obtain funds.

“Square is considering making a hardware wallet for Bitcoin,” Dorsey Say Ask for feedback on this idea in a series of tweets.

“If we do, we will build it completely openly, from software to hardware design, and work with the community.”

Dorsey concluded that Bitcoin is the currency of the masses, and it is important for people to hold it without entrusting it to external parties.

“The exchange you used to buy Bitcoin may be good intentions to protect your security, but the situation may indicate that’custodial’ actually means’IOU’,” Dorsey, who is also the head of Twitter, tweeted .

“Deciding to keep and secure your Bitcoin is very complicated.”

He envisioned a Bitcoin wallet that would allow people to easily use part of it for shopping, such as through their smartphones, while protecting the rest of the cryptocurrency.

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“We can imagine applications that run without Square, perhaps without the permission of Apple and Google,” he continued, referring to the world’s two largest smartphone operating system manufacturers.

Dorsey said that if Square decides to continue the project, it will open accounts on Twitter and the software developer community website GitHub, specifically for Bitcoin wallet design.


Interested in cryptocurrency? We discussed everything about encryption on the Advertisement Shout podcast Orbital with Nischal Shetty, CEO of WazirX, and Alok Jain, founder of Weekend Investing. Orbital can be used on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get podcasts.