December 8, 2022

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Twitter’s Dorsey says Square is considering creating a non-custodial hardware wallet for bitcoin

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Dorsey is also Square’s chief executive officer, he spoke on Friday (hence the ICYMI):

  • “We don’t want to compete with other hardware wallets out there” 
  • “We just want to take it to the next level and get to 100 more million people, which have non-custodial solutions”
Dorsey indicated it’d be open source:
  • “If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community”

Bitcoin wallets can be stored offline or online at cryptocurrency exchanges,

  • a non-custodial wallet, you have sole control of your private keys, which in turn control your cryptocurrency and prove the funds are yours
  • With a custodial wallet, another party controls your private keys

Dorsey is also Square's chief executive officer, he spoke on Friday (hence the ICYMI):
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