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Jack Dorsey Confirms Square is Building an Hardware Wallet

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The CEO of Square, Jack Dorsey who doubles as the CEO of Twitter has today confirmed the plans of the company building a hardware wallet for the storage of cryptocurrencies such as Bitcoin. He confirmed the plans on Twitter today in  a quoted tweet.

The head of products development, Jesse Dorogusker was the first to reveal the plans of Square in a tweet where he stated that the company is building the hardware wallet to foster Bitcoin adoption;

 

Read more:Ecowas May Be Considering the Use Of Cryptocurrency For to Facilitate Trade

 

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

 

https://twitter.com/JesseDorogusker/status/1413222597207134214?s=19

 

The Chief executive, Jack quoted the tweet and confirmed the claim that the company was really building the product; “We’re doing it”.

 

https://twitter.com/jack/status/1413261505156599809?s=19

 

About last month, the CEO disclosed on Twitter that Square was considering building a Bitcoin hardware wallet and that if it finally thinks of building the wallet, it would collaborate with the community so as to do it the right way. It was a long thread.

 

https://twitter.com/jack/status/1400839179513339905?s=19

 

Basically, an hardware wallet is an offline cold storage where crypto assets such as Bitcoin, Ethereum, and the likes can be stored. They can be accessed by connecting the flash drive-like hardware wallet to a Computer. It is a fully secure wallet as the user has full custody over assets stored.

 

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