A fingerprint sensor will be added to Block’s crypto wallet
The company will evaluate additional access methods that customers can choose
12.03.2022 - 07:00
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What’s new? Fingerprints will become the primary authentication mechanism in a bitcoin hardware wallet from Block, a financial services company headed by Jack Dorsey. The organization admits that this approach has its drawbacks, but claims that it will increase protection against theft of funds or misuse of the hardware wallet.
Information on the Block Wallet Team website
What does the company say? Block stated that some users may require a higher level of security than a fingerprint. As the wallet is created, the company will evaluate additional access methods that customers can choose, the statement says.
“We believe PINs, passwords, and seed phrases are confusing and often not secure given the workarounds normal people have to create.”
What are the company’s intentions? Block decided to use an open-source solution for a BTC transaction signing device in 2021 when it announced its approach to bitcoin self-custody. The initiative involved a combination of hardware and software products that the user can use to achieve their own optimal balance of security and convenience.
What is known about the company? Block Inc. (formerly Square Inc.) is a technology company specializing in financial services. Block helps run and develop a business through an integrated ecosystem of commerce solutions, business software, and banking services.
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