Square and Twitter aim to democratize bitcoins with a physical "wallet"

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Twitter CEO Jack Dorsey said his digital payments specialist Square, which he also runs, is considering creating a bitcoin "wallet," a kind of USB key for storing 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 case of Internet transactions. 

They can also opt for “virtual” wallets, entrusting their money to third-party companies, which they can access through passwords. 

But Jack Dorsey believes that bitcoin should not be reserved for connoisseurs and is looking for ways to build trust in the cryptocurrency, generating for example a way to buy it without having to depend on third parties.

"Deciding to store bitcoins yourself is complicated," he wrote on Twitter, before listing the problems to be solved: availability, security, ease of use of the mobile, and so on. 

The entrepreneur has in mind a "wallet" whose user can use to make purchases, through his smartphone, for example, without compromising his money or the cryptocurrency system in general. 

"If we do, we will do it completely open, from software to device, in collaboration with the community," he said. 

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

Bitcoin is a decentralized asset with no direct connection to the real economy, which is based on blockchain technologies and fascinates Jack Dorsey and many Silicon Valley figures, such as Elon Musk, the CEO of Tesla.

This cryptocurrency is still very volatile, but the growing interest of institutions and companies considered stable contributes to its being increasingly used.

 

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