Blockchain, the technology firm underpinning Bitcoin is partnering with hardware wallet maker Ledger to launch its first ever hardware wallet.
While broadcasting the move on Thursday, blockchain said it has partnered with the French-based hardware wallet to produce Lockbox, a new handheld gadget for its clients. Lauding the move, Blockchain’s Chief Executive Officer and Co-founder Peter Smith said the device will enable traders to swipe through cryptocurrencies in an all-in-one platform.
“For us, what’s really important right now is to get the product to a point where you don’t need other places to complete your user action in crypto,” Smith said.
Distinctive features
Once launched, Lockbox is expected to take the crypto market by storm given its unique characteristics. First of all, the device will contain an all-in- one account which will enable crypto-to crypto transaction without necessarily switching platforms. This it aims to be achieved through Swap, blockchain’s native brokerage which is set for launch later this month.
The device is also set to have end-point control features which unlike other hardware wallets, will enable it to connect to the internet once connected to a computer. The end-point feature will enable selective website connection where only genuine websites will be able to connect with the device. It will also be able to detect and redirect accordingly any phishing attempts by illegitimate versions of external platforms in addition to the offline custody ability which is a common feature in most crypto wallets. According to Mr. Smith, he is optimistic the new unique features will with no doubt give their clients a safer, seamless, and efficient experience on the platform.
Strategic plan
Much as the new device will only support Bitcoin Cash, Bitcoin and Ethereum at launch, Mr. Smith says that though the firm remains thoroughly selective regarding the type of assets that can be added to Lockbox, it is open to considerations as long as there is substantial evidence of user demand. They aim the Lockbox device will be instrumental in expanding the crypto offering space as it will be able to accommodate different liquidity sources at ago.
“We built a machine trading platform. It connects to different liquidity sources across the ecosystem, everything from different exchanges to market markers,” he said adding that “ I think we will be more aggressive on adding assets in the next six months … in the long run, I see our trading system being both a consumer and provider to DEXs [decentralized exchanges]”
