Jack Dorsey's Company Unveils Bitkey Hardware Wallet
Date: 2023-12-07 Author: Dima Zakharov Categories: BUSINESS, IN WORLD
Block, led by former Twitter founder and CEO Jack Dorsey, has introduced its own hardware wallet named Bitkey. Bitkey is designed in the form of a USB flash drive. Thomas Templeton, the Head of Bitcoin Hardware at Block, assured that the new Bitcoin hardware wallet aligns with Jack Dorsey's strategy of ensuring the security and decentralization of the digital asset industry.
Bitkey users will have the ability to seamlessly connect to cryptocurrency exchanges and payment services, including Block's Cash app, allowing for smooth asset transfers between platforms. Block has already established a partnership with Cash App and is exploring other synergy opportunities.
Bitkey users can set spending limits and create rules where any transaction exceeding a chosen amount requires additional approval.
Dorsey had announced the development of a new hardware wallet and Bitcoin mining system back in 2021. The Twitter founder called on members of the crypto community to actively contribute to the decentralization of the Bitcoin ecosystem and strive to improve the accessibility of secure storage and mining of digital assets. Despite similar products being available on the market, a significant portion of the crypto community continues to store crypto assets on trading platforms.
Previously, the founder of Twitter became one of the largest investors in the startup Mummolin, which promises to "revolutionize the Bitcoin mining industry."
