Square’s hardware lead, Jesse Dorogusker, revealed on Thursday that the business will create a bitcoin hardware wallet. CEO Jack Dorsey, who is also the CEO of Twitter, stated in June (in a tweetstorm, of course) that the firm was contemplating developing one, and Square has now decided to proceed.
Dorogusker stated, “We have chosen to create a hardware wallet and service to make bitcoin custody more mainstream.” “We will continue to ask and answer questions openly. This community’s response to our project thread has been fantastic – encouraging, giving, collaborative, and inspiring.”
Dorsey has made no secret of his fascination in bitcoin. His Twitter bio just states “#bitcoin,” he demonstrated a bitcoin clock when testifying before Congress, and he has even stated that if he wasn’t working at Square and Twitter, he would be working on bitcoin. As a result, it is probably unsurprising that more of Square’s efforts will be directed toward developing a hardware wallet for cryptocurrencies. However, Square’s first cryptocurrency-focused product will not be this hardware wallet