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Jack Dorsey Says Square 'Considering' Bitcoin Hardware Wallet

"We would build it entirely in the open, from software to hardware design, and in collaboration with the community."

1 min read
Twitter CEO Jack Dorsey. Image: Shutterstock.

Twitter and Square CEO Jack Dorsey says Square is "considering" developing a hardware wallet for Bitcoin.

A Bitcoin hardware wallet, or "cold wallet," is essentially a flash drive where you can store your cryptocurrency offline; online "hot wallets," or just "wallets" (think Metamask, Trust Wallet, and Rainbow), are generally considered less secure.

In a tweet thread this morning, Dorsey posed broad questions about the engineering direction for the hardware.

"Are small displays necessary?" he asked. "Expecting mainstream customers to validate details on a small display is unlikely to increase security and likely to reduce device reliability, increase device cost, and decrease accessibility. Is the product better if a display isn't required?"

Ledger and Trezor, two popular cold wallet manufacturers, both include small displays on their products.

Dorsey said that Jesse Dorogusker, a longtime Square executive, would be helping mull over these sorts of decisions.

As for when he might decide whether to actually start developing a wallet, Dorsey was vague. "We’ll update this thread with that information when we’re ready," he wrote. "Thanks!"

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