On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Jack Dorsey and hardware lead Jesse Dorogusker have both confirmed Square’s plans to develop a Bitcoin hardware wallet.
Digital payments firm Square is building a Bitcoin hardware wallet, with CEO Jack Dorsey and hardware lead Jesse Dorogusker both confirming the plan on Twitter.
The tech entrepreneur and Bitcoin proponent, first teased the idea for a Square hardware wallet and custody service last month, bu revealed today that “we’re doing it.”
We’re doing it #Bitcoin https://t.co/IwbKuBoXGv
— jack (@jack) July 8, 2021
Dorogusker said on Twitter that Square wants to make Bitcoin custody more mainstream, and outlined the pathway for the hardware wallet rollout:
“We have a lot of questions and issues to reconcile and we’ll start with this product direction: Bitcoin first, global distribution, multisig to achieve ‘assisted-self-custody,’ and prioritizing mobile use.”
Our next step is to build a small, cross-functional team, which will be led by @max_guise (welcome back!!). We will incubate this full-stack of tech, design, product, manufacturing, and supply chain with @templetonthomas & Square’s hardware team to start with a strong foundation.
— Jesse Dorogusker (@JesseDorogusker) July 8, 2021
Dorsey explained the term “assisted-self-custody” last month, noting that the firm is looking to provide a simplified experience for managing a hardware wallet.
“Custody doesn’t have to be all-or-nothing. We can probably simplify custody through 'assisted self-custody.' Assisted requires great product design: minimal setup time, relying on existing devices, and end-to-end reliability,” he said.
As crypto has seen a massive uptick in speculation from new investors amid the growth of the sector over the past 12 months, the topic of crypto custody is becoming increasingly important.
Hardware wallets are one of the most secure ways to hold crypto-assets because they enable users to store their private keys and holdings on external offline devices. But average users complain they are complicated to learn how to use.
Related: Pioneering hardware wallet brings enhanced staking to cold storage
Storing funds on an exchange can be risky, as the user doesn’t have full control over their assets which can be lost to hacks or caught up in regulations.
It is also alarmingly easy for hackers to swipe users' digital assets by deploying tactics aimed at acquiring personal information, such as sim swaps, malware, and even fake apps on Google Play.
Software wallets on computers or mobiles also face the risk of malware.
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