Jack Dorsey Confirms Square Will Make Bitcoin Hardware Wallet

The decision was announced in a tweet by Jesse Dorogusker, the hardware lead and TIDAL lead at Square.

article-image
share

key takeaways

  • “We have decided to build a hardware wallet and service to make bitcoin custody more mainstream,” Dorogusker said
  • Dorsey said the wallet would be “entirely in the open, from software to hardware design, and in collaboration with the community”

Square, a digital payments service company led by Twitter CEO Jack Dorsey, is going forward with building a hardware wallet for bitcoin after Dorsey hinted at the possibility in early June. 

The decision was announced in a tweet by Jesse Dorogusker, the hardware lead and TIDAL lead at Square. 

“We have decided to build a hardware wallet and service to make bitcoin custody more mainstream,” Dorogusker said. 

Loading Tweet..

Following Dorogusker’s tweet, Dorsey quoted his tweet and replied, “We’re doing it #Bitcoin.”

Neither of them provided specific details or a timeline for the product creation and Square was not available for immediate comment, but Dorogusker shared some details about the plan. 

Dorogusker said there are still “a lot of questions and issues to reconcile” and the company will start with a production direction of bitcoin first, while supporting multisig to achieve “assisted-self-custody,” and prioritizing mobile use. 

In general, bitcoin hardware wallets are physical devices plugged into a computer or phone that allow owners to securely store and access bitcoin through private keys.

When Dorsey tweeted that Square was considering making a hardware ballet for bitcoin, he said it would be “entirely in the open, from software to hardware design, and in collaboration with the community.” 

He added that they wanted to build “an inclusive product that brings a non-custodial solution to the global market,” making bitcoin for everyone.

Tags

Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Permissionless is a conference for founders, application developers, and users. Come meet the next generation of people building and using crypto.

recent research

Blinks Report Image.png

Research

Blinks enable the ability to vampire attack user monetization of existing networks by inserting onchain and financialized functionalities directly within the popular social feeds and digital experiences of today.

article-image

Kalshi founder Tarek Mansour said Thursday marked the “the first trade on regulated election markets in nearly a century”

article-image

I was excited about being on the precipice of realigning societal incentives and solving many issues plaguing our modern financial world

article-image

Cypherpunk Holdings has rebranded to Sol Strategies in a pivot to a Solana-first investment approach

article-image

BitGo’s wrapped bitcoin (wBTC) has a new custodial challenger

article-image

Make no mistake: Tether makes a ton of money. But exactly how much depends a lot on the price of bitcoin.

article-image

A new report on stablecoin activity in emerging markets shows their immense popularity in Nigeria