father of iPod launches new cryptocurrency wallet | the future of money –

father of iPod launches new cryptocurrency wallet | the future of money

Tony Fadell, the Silicon Valley chief executive known as the father of the iPod, unveiled his latest project on Tuesday: a physical wallet used to store cryptocurrencies offline.

Fadell, 53, worked at Apple for almost a decade under Steve Jobs, where he led the development of the portable music player and later helped build the company’s most famous device, the iPhone.

After leaving Apple in 2008, he founded Nest Labs, a smart home device company. Nest was later acquired by Google for $3.2 billion.

Now Fadell is teaming up with French tech company Ledger to develop a new cryptocurrency wallet.

Cryptocurrency trading requires the use of complex cryptographic keys that are used to authorize transactions. These keys are often found online, such as on a stock exchange, in a digital environment, which can make them more vulnerable to hackers or theft.

The recent collapse of FTX, which resulted in the disappearance of over $1 billion of client funds, has led to an unprecedented increase in demand for offline or “self-service” services such as Ledger.

Previous models released by the company, such as the Nano S and Nano S, were designed as USB flash drives. Fadell’s new design, the Ledger Stax, is a credit card-sized device.

“Until now, all safety equipment has been like all MP3 players before the iPod, and it’s time for the iPod,” said Ian Rogers, chief experience officer at Ledger.

Fadell has previously expressed skepticism about some elements of “Web 3.0,” a term that encompasses several next-generation decentralized technologies, including cryptocurrencies and the metaverse.

Ledger Stax will retail for $279 starting in 2023.

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