Jack Dorsey’s company will launch a hardware wallet with a fingerprint scanner

Block payment service is developing a bitcoin hardware wallet with a lithium-polymer battery, a USB-C port and biometrics support.

Block (SQ) payment company of Twitter founder Jack Dorsey, formerly known as Square,
stated in a blog that a fingerprint scanner for transactions will be built into the bitcoin wallet she is creating.

“For transactions that require the use of wallet hardware, we will integrate a fingerprint scanner so that our customers can securely but easily unlock their wallets. This is a new feature that has not historically existed in this market,” the company said in a statement.

According to the developers, the wallet will not have a display, as the company believes that it is not necessary and does not improve ease of management. In addition, the solution will make the cryptocurrency wallet cheap, which will contribute to its demand among bitcoin owners.

This is not the first time that a company founded by a person who came from another business is issuing a cryptocurrency wallet. In 2019, the founder of China’s leading cryptocurrency exchange BTCC, Bobby Lee, who stepped down as CEO to found Ballet, also decided to develop a hardware cryptocurrency wallet. A feature of Ballet devices was that the wallets would pre-generate public addresses and private keys for users. Lee stated that this would attract users who are not familiar with cryptocurrencies and make handling the wallet much easier. In the same year, the American startup VaultTel introduced a miniature hardware wallet, made in the form factor of a SIM card, and working in the corresponding slot on a smartphone.