The boss of Square and Twitter would like to democratize the bictoin with a physical “wallet”

AFP, published on Saturday June 05, 2021 at 8:00 a.m.

Jack Dorsey, the boss of Twitter, said Friday that his company specializing in digital payments, Square, was considering making a bitcoin “wallet”, that is to say a kind of USB key to pocket his cryptocurrencies on a physical and secure medium.

Jack Dorsey, the boss of Twitter, said Friday that his company specializing in digital payments, Square, was considering making a bitcoin “wallet”, that is to say a kind of USB key to pocket his cryptocurrencies on a physical and secure medium.

These objects are used to store digital currencies offline. Their users synchronize them with their compatible financial applications in the event of transactions on the Internet.

They can also be satisfied with “virtual” portfolios. In this case, they trust third-party companies to protect their money and use passwords to access it.

But Jack Dorsey believes that bitcoin shouldn’t be just for connoisseurs, and is looking for ways to build confidence in cryptocurrency, including providing a way to buy it without having to rely on third parties.

“Deciding to store your bitcoins yourself is complicated”, he notes on Twitter before listing the problems to be solved: availability, security, ease of use on mobile, etc.

He envisions a “wallet” that people could use to do their shopping, via their smartphone for example, without compromising their money or the cryptocurrency system in general.

“If we do, we’ll make it completely open, from software to device, in collaboration with the community,” he says straight away.

“You can imagine applications that work without Square and perhaps also without the permission of Apple and Google,” he continues, referring to the two dominant mobile operating systems in the world.

This cryptocurrency remains very volatile but the growing interest of institutions and companies considered stable contributes to making it gradually enter into mores, beyond the insiders.

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