Jack Dorsey confirmed that Square is developing its Bitcoin hardware wallet. According to the head of Twitter, while creating the device, the team intends to enlist the support of the community.
The head of one of the departments of Square tweeted yesterday that they intend to develop not only a wallet, but also a service to make storing Bitcoins more convenient, reliable, and most importantly, widespread. A little later on his Twitter account, Dorsey confirmed his statement. At the beginning of June, he announced the creation of a special Twitter account and an account on Github to discuss the future project and communicate with the community.
The company is already recruiting a team to develop the wallet. She will be joined by Square Device Security Officer Max Giese, Jesse Dorogusker, and former Apple employees Thomas Templeton.
The main vision for creating a hardware wallet will be the principle of “assisted-self-custody”, implying an emphasis on its mobile use. But, according to Dorsey, choosing such a solution will force them to carefully consider the product design, taking into account the time factor required to set up the device, compatibility with existing devices, as well as end-to-end reliability. The wallet will be open source, which is especially convenient when used in conjunction with a smartphone. The team more than once drew attention to the fact that the main requirement for a product on their part is ease of use.
Twitter users were actively interested in the announcement, asking Square representatives about the reasons for choosing Bitcoin. One of these was the developer of Story Lab. He decided to clarify why the team's choice fell on "obsolete, planet-destructive technology" in the form of Bitcoin, citing Stellar (XLM) as an alternative. However, no response has yet been received.
Dorogusker stressed that Square now faces many issues and problems that need to be agreed upon: Bitcoin, the distribution of their devices, multisignature, priority for mobile use and other equally important aspects.
Dorsey has long been a dedicated Bitcoin fan, so it is unlikely that his choice when creating a hardware wallet could fall on any other asset. Especially because he had previously publicly “abandoned” even Ethereum more than once, almost without mentioning other tokens.