Jack Dorsey Says Square Inc May Dwell Into Bitcoin Hardware Wallet Manufacturing

Prashant Jha
June 4, 2021 Updated April 15, 2024
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Jack Dorsey

Jack Dorsey, founder of Bitcoin spending app Square Inc said that the company is considering weighing in the possibilities of manufacturing Bitcoin hardware wallet. Dorsey who is a big Bitcoin advocate and revealed if his company’s plans finalize over a bitcoin hardware wallet production, it would be entirely done through open-source software and community involvement.

Dorsey also laid out some of the guiding principles that would drive the new manufacturing process and said,

Bitcoin is for everyone. It’s important to us to build an inclusive product that brings a non-custodial solution to the global market. Much respect to everyone who has gotten us this far. What are the biggest blockers to get a non-custodial solution to the next 100M people?

Advertisement
Advertisement

Square’s Bitcoin Hardware Wallet to Have Cash App Integration?

Dorsey in his tweet series talked about different aspects of the upcoming project with security being the top priority. He also went on the stress that self-custody doesn’t have to be as complex as it is at present and the firm would be looking for an inclusive solution with assisted self custody. He went on stress the need for mobile compliant service as the majority of people access the internet and other services on mobile.

Dorsey went on to add that its very popular cash app will be integrated into the upcoming hardware wallet service for easy accessibility. He also added that the layer-2 solution could also play a key role in Square’s bitcoin hardware wallet.

Square Inc has become a growing choice of retail investors to buy sell and spend bitcoin over the past year. The Bitcoin-centered app has also been among key institutional buyers of Bitcoin along with Microstrategy. If the plan finalizes for a Bitcoin hardware wallet, Jack Dorsey-led company could potentially disrupt the hardware wallet market.

Advertisement
coingape google news coingape google news
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.