His company is big on BTC having invested heavily into the world’s most valuable cryptocurrency.
Dorsey shared his thoughts in a twitter thread, adding that Bitcoin is for everyone. Therefore, it is important for his team to build an inclusive product that brings a non-custodial solution to the global market.
Square is considering making a hardware wallet for #bitcoin. If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community. We want to kick off this thinking the right way: by sharing some of our guiding principles.
— jack (@jack) June 4, 2021
He further detailed:
“Cash App integration is obvious for us but only part of the solution. A smooth experience likely depends on a custom-built app but it doesn’t need to be owned by Square. We can imagine apps that work without Square and maybe also without permission from Apple and Google. You?”
The Square CEO topped it off by saying that he is open to feedback, and will continue the conversation around developing a hardware wallet. In the meantime, his team will set up a dedicated Twitter and GitHub account if the plan to build a wallet goes ahead.
Square is one of the more active players in the crypto space, having recently become part of a Bitcoin trade group that has names like Fidelity and Coinbase for company.
And though the company has put a cap on more Bitcoin investments for the immediate future, developing an open hardware wallet is something that a firm like Square can pull off well with support of the community.
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