Jack Dorsey and his company Block are developing a hardware wallet with a fingerprint sensor

A fingerprint sensor integrated into the wallet

During the Bitcoin 2021 conference in Miami, Jack Dorsey announced that Block (formerly Square) considered creating a hardware wallet for Bitcoin (BTC). The payment giant seems to be making progress in the development of this new product.

In an official announcement, Block explained that its hardware wallet will integrate a fingerprint sensor for transactions. The new wallet will also be powered by a rechargeable lithium polymer battery and a USB-C port.

We can read in the ad:

“For transactions that require the use of the hardware wallet, we want our customers to be able to unlock their wallet securely, but with ease. We think PINs, passwords and seed phrases cause some confusion. »

As a result, the wallet will not have a screen since users will only have to place a finger on the sensor rather than “manipulating tiny buttons or reading instructions on a small screen”.

Note, however, that the hardware wallet will work in association with a mobile application where users will be able to manage their BTC and issue transactions. Jack Dorsey explained the importance of self-reliance and the need to create a seamless mobile experience to expand cryptocurrency adoption.

Simplify the experience

Earlier, Jack Dorsey explained that “assisted self-storage” could simplify the experience managing their own cryptocurrency portfolio. He also pointed out that a layer 2 solution could be integrated into the portfolio.

Asked how bitcoin can help bring in the currently unbanked people whose number is estimated at around 1.7 billion people, Jack Dorsey argued for abolishing the current banking system.

The Block payment company launched by Jack Dorsey is valued at $60 billion, more than Crédit Agricole or Société Générale.

Source: Block

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