{"id":295756,"date":"2021-07-10T12:09:53","date_gmt":"2021-07-10T09:09:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/square-making-real-world-wallet-for-bitcoin\/"},"modified":"2021-07-10T12:09:53","modified_gmt":"2021-07-10T09:09:53","slug":"square-making-real-world-wallet-for-bitcoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/square-making-real-world-wallet-for-bitcoin\/","title":{"rendered":"#Square making real-world wallet for bitcoin"},"content":{"rendered":"

“#Square making real-world wallet for bitcoin<\/strong>”<\/p>\n

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\n This file photo shows a physical imitation of the bitcoin cryptocurrency.
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Financial payments startup Square was at work Friday on a real-world wallet for safely pocketing bitcoin cryptocurrency.<\/p>\n

Square founder and chief Jack Dorsey, who is also the top executive at Twitter<\/a>, had tweeted last month asking for feedback on the notion.<\/p>\n

“This community’s response to our thread about this project has been awesome\u2014encouraging, generous, collaborative and inspiring,” Jesse Dorogusker of the Square hardware team tweeted on Thursday.<\/p>\n

“We have decided to build a hardware wallet and service to make bitcoin custody more mainstream.”<\/p>\n

Dorsey endorsed Dorogusker’s post with a tweet of “We’re doing it #bitcoin.”<\/p>\n

Hardware wallets can be used to store digital currency offline, synching with app<\/a>lications for transactions on the internet as needed.<\/p>\n

Another option for cryptocurrency owners is to use “virtual” wallets, essentially trusting third parties to keep money safe and using passwords to access funds.<\/p>\n

Dorsey reasoned in tweets that bitcoin is a currency for the masses, and that it is important to have ways for people to hold it that don’t involve entrusting it to outside parties.<\/p>\n

“The exchange you used to buy your bitcoin probably attends to your security with good intent, but circumstances may reveal ‘custody’ actually means ‘IOU,'” Dorsey tweeted in June.<\/p>\n

“Deciding to take custody, and security, of your bitcoin is complicated.”<\/p>\n

He envisioned a bitcoin wallet that makes it easy for people to use some of it for shopping, for example through smartphones, while protecting the rest of the cryptocurrency.<\/p>\n

“We can imagine apps that work without Square and maybe also without permission from Apple and Google,” he continued, referring to the makers of the world’s big two smartphone operating systems.<\/p>\n

Square will set up accounts at Twitter and software developer community website GitHub dedicated to the bitcoin wallet project, said Dorsey.\n <\/p>\n\n

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Square chief Dorsey mulls pocket wallet for bitcoin\n <\/p><\/div>\n

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\n \u00a9 2021 AFP<\/p>\n

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Citation<\/strong>:
\n Square making real-world wallet for bitcoin (2021, July 10)
\n retrieved 10 July 2021
\n from https:\/\/techxplore.com\/news<\/a>\/2021-07-square-real-world-wallet-bitcoin.html<\/p>\n

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\n part may be reproduced without the written permission. The content is provided for information purposes only.<\/p><\/div>\n<\/p><\/div>\n