Man behind the iPod launches new cryptocurrency wallet – Reuters

Man behind the iPod launches new cryptocurrency wallet – Reuters

Blockchain Crypto Market Technology
December 8, 2022 by Coinvasity
22
[1/2] Honoree and founder of Nest, Tony Fadell, arrives at the Time 100 gala celebrating the magazine's naming of the 100 most influential people in the world for the past year in New York April 29, 2014. REUTERS/Lucas Jackson LONDON, Dec 6 (Reuters) – Tony Fadell, a well-known Silicon Valley executive known as the father of
wp-header-logo-144.png

[1/2] Honoree and founder of Nest, Tony Fadell, arrives at the Time 100 gala celebrating the magazine's naming of the 100 most influential people in the world for the past year in New York April 29, 2014. REUTERS/Lucas Jackson
LONDON, Dec 6 (Reuters) – Tony Fadell, a well-known Silicon Valley executive known as the father of the iPod, on Tuesday unveiled his latest project – a hardware wallet used to store cryptocurrency offline.
Fadell, 53, spent almost a decade at Apple (AAPL.O) under Steve Jobs, where he oversaw the design of the portable music player, and later helped create the company's best-known device, the iPhone.
After quitting Apple in 2008, he launched Nest Labs, a smart home-devices company. Nest was later acquired by tech giant Google for $3.2 billion.
Now Fadell has teamed up with Ledger, the French technology firm, to design a new offline cryptocurrency wallet.
Trading crypto requires the use of complex cryptographic keys, which are used to authorise transactions. These keys are typically stored online, for example with an online exchange, which can leave them more susceptible to hacking or theft.
The recent collapse of crypto exchange FTX, which has seen more than $1 billion of customer funds vanish, prompted an unprecedented surge in demand for offline, or "self-custody", services such as Ledger.
Previous models released by Ledger, such as the Nano S and Nano S, have been shaped like USB memory sticks. Fadell's new design, the Ledger Stax, is a credit-card sized device featuring a curved spine and electronic-ink display.
"All of the secure hardware up to this point was like all the MP3 players before the iPod, and it was time for an iPod," Ian Rogers, chief experience officer at Ledger, told Reuters.
Fadell had previously expressed scepticism of some elements of "Web 3.0," a catch-all term encompassing a host of next-generation decentralised technologies, including cryptocurrency and the metaverse.
The Ledger Stax will sell for $279 online from early 2023.
Our Standards: The Thomson Reuters Trust Principles.
Total funding at crypto startups this year is set to exceed investments in 2021, research firm Pitchbook said on Thursday though the pace of capital deployment is slowing as a series of crypto blowups sapped private equity investment appetite.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2022 Reuters. All rights reserved

source

Add a comment