- Square Inc is considering manufacturing a Bitcoin hardware wallet
- Jack Dorsey mentions that they will build it in collaboration with the community
- The Square Inc CEO hinted that the wallet will be non-custodial
Twitter and Square Inc CEO Jack Dorsey recently tweeted a potential development of a Bitcoin hardware wallet. Dorsey, a known Bitcoin supporter, shared his company’s plans to develop the wallet with an open-source development approach and the involvement of the community.
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
According to Dorsey, there are some guiding principles that need to drive the manufacturing process. In another Tweet, he said that, “Bitcoin is for everyone. It’s important to us to build an inclusive product that brings a non-custodial solution to the global market.”
Aside from these, he laid out some things that need to be included in the development process. He talked about various aspects — with security as the topmost consideration. He also pointed out how self-custody could be less complex than how it is today.
As many people are now on mobile, he also went on to say that the wallet should be able to be accessed through mobile as well. He proceeded to publish 13 more tweets to discuss this new development.
One of the most standout points was the Cash App integration. As a mobile service developed by Square Inc, it’s quite obvious that this needed to be included. However, according to Dorsey, it’s “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.”