Jack Dorsey’s Block Releases UI Teaser, Seeks Partners For Highly Anticipated Self-Custody Bitcoin Wallet

Jack Dorsey’s Block Releases UI Teaser, Seeks Partners For Highly Anticipated Self-Custody Bitcoin Wallet

Bitcoin Mining Business Cryptocurrency
April 21, 2023 by Admin
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How does Jack Dorsey’s self-custody Bitcoin wallet differ from existing digital currency storage solutions? Jack Dorsey’s Block Releases UI Teaser, Seeks Partners For Highly Anticipated Self-Custody Bitcoin Wallet Tech giant Jack Dorsey’s payments company, Square’s crypto subsidiary Block, have released a user interface (UI) teaser and is seeking potential partners of its highly anticipated self-custody
682 jack dorseys block releases ui teaser seeks partners for highly anticipated self custody bitcoin wallet

How does Jack Dorsey’s self-custody Bitcoin wallet differ from existing digital currency storage solutions?

Jack Dorsey’s Block Releases UI Teaser, Seeks Partners For Highly Anticipated Self-Custody Bitcoin Wallet

Tech giant Jack Dorsey’s payments company, Square’s crypto subsidiary Block, have released a user interface (UI) teaser and is seeking potential partners of its highly anticipated self-custody bitcoin wallet.

The UI teaser confirms a few features, including the ability to send and receive bitcoin on a Block supported wallet, lock and unlock it and also the ability to monitor transaction activity. It also confirms the use of PIN code for the wallet which will provide an extra layer of security.

Block has also revealed that it is actively seeking partners to invest in and collaborate with, in order to achieve its goal of building a self-custody wallet. Partnerships with digital asset custodian Northern Trust, regulated crypto broker Tagomi, and stablecoin provider Crypto.com, have already been announced.

Jack Dorsey first announced the plans for a self-custody Bitcoin wallet back in March, but this is the first time since then that details have been revealed. The wallet is being built as a part of its internal R&D project, dubbed ‘Project Negroni’.

The wallet is also said to be powered by Lightning network, an innovative payment protocol created as an off-chain scaling solution to facilitate bitcoin transactions. This is believed to allow users to send and receive bitcoin with lower fees and faster speeds.

It is expected that the wallet will be released in the summer of 2021 and the enthusiasm among the bitcoin community appears to be at an all-time high. It will be interesting to watch how the wallet fares in the market, when it is eventually released.