Jack Dorsey's Block Is Building Sci-Fi Inspired Crypto Wallet To Safeguard Bitcoin, Business Lead Reveals

Block, the tech firm formerly known as Square and led by Twitter co-founder Jack Dorsey, is in the process of developing Bitkey, a state-of-the-art crypto key product called Bitkey, Business Today reports.

Bitkey is a physical, hardware-based crypto key product that serves as a self-custody wallet. Unlike typical mobile apps, Bitkey is a tangible piece of hardware designed to put the keys to your digital assets directly in your control.

Bitkey’s Purpose and Functionality: Lindsey Grossman, Bitkey’s business lead said, “Our aim is to create a product that empowers customers to take control of their Bitcoin in a secure, user-friendly way.”

Grossman also highlighted that Dorsey is deeply supportive of the Bitkey project due to its potential to put customers in control of their money.

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Bitkey allows users to purchase Bitcoin (CRYPTO: BTC) on a crypto exchange and then transfer it to their Bitkey wallet. Any transaction or transfer beyond a set limit must be approved on the Bitkey device, providing an additional layer of security. Grossman emphasizes that self-custody wallets like Bitkey put the keys in the user’s hands and ensure self-custody of their money.

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Image via TED Conference on Flickr