It was a joke about waiting for Bitkey.

Has anyone already analyzed this source code on github? Nobody found anything interesting or alarming?


Of course, not for this reason. Let me guess, you were also wondering what crap this company would release and deprive its naive clients of sole ownership of their crypto assets? Initially, it was clear (presumably) that the square in its structure would use a concept that would directly confront the ideas of decentralization and the principles of cryptocurrencies (financial freedom and independence).

I'd like to think a little (hypothetically) about the nature of centralized hardware wallets. Let's assume that at one moment all crypto assets of the square's clients will be taken away by this company (isn't this the most frightening thing?). What can these clients do? Draw up a class action lawsuit against them (it’s clear which side the court will probably take). So it turns out that due to reputational and financial risks, it is not in the interests of such companies to openly rob their clients. Therefore, as I assume (but don't try to justify them), fears towards such manufacturers are slightly unfounded (but I will not recommend their devices). The greater concern is that the manufacturing company will not be able to build a reliable security system and that client assets will be stolen by malicious hackers. But the same thing can happen to any crypto investor with personal storage, right? A bonus can be considered that in case of losses incurred by a company like square, they will have to compensate (if they can) for the losses of clients. Unprepared crypto investors, who I assume are the majority, will benefit from placing the responsibility for custody and risk on someone else (the company), as when storing money in traditional banks. It is from this point of view that bitkey will be interesting.