Victor Ugochukwu · Oct 27, 2020 . 6min read
Foundation Devices launches Passport Bitcoin Wallet
Foundation Devices has entered the digital wallet space with its latest product 'Passport'. The device offers users with features that will enhance their security.
By Shilika · Jul 29, 2020 . 5min read
Boston-based Foundation Devices has launched a cold-storage hardware solution in the form of a hardware wallet known as ‘Passport’. The device will serve crypto-asset owners by offering them a wide range of sovereignty-tools.
The device comes with a camera to scan QR codes, a physical keypad, and security lights. AAA batteries will be its source of power. It does not consist of any USB ports making it air-gapped. This enhances its security. The only way that data can breach the wallet is through the camera or a micro-SD card. Passport will also be open source.
Zach Herbert, CEO of Foundation Devices told Bitcoin Magazine,
“Hardware wallets are the most established consumer hardware market in the Bitcoin space, with an assortment of companies competing for market share, but in our opinion, none of these incumbents has made a product that, one: strikes the right balance between security and design and, two: makes it easy for new Bitcoiners to self-custody their coins.”
Unlike other wallets, Passport does not require users to have a 12 or 24 word recovery seed. Users will instead have their seed stored on the micro-SD card which will be protected by a password. According to Foundation, the security is not compromised in any way as attackers will need access to both the SD card and the password.
“We believe that the recovery seed is a challenging concept for new Bitcoiners and also represents a significant attack vector — no matter how secure a user’s hardware wallet, if an attacker finds the recovery seed, then it is game over, we feel strongly that this will enable a better user experience and reduce user error.”
The Future Intent
Foundation Devices is already looking beyond Passport. They are keen on entering into the phones and computer markets shortly. The manufacturing of Foundation products takes place in the US. This allows the company to fully control the supply side.
Passport will be available to pre-order in August. It is currently offering the first 1000 unit run of Passport wallets for reserve on its website.
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Victor Ugochukwu · Oct 26, 2020 . 5min read