Blockchain, Ledger Release ‘First-of-Its-Kind’ Cryptocurrency Hardware Wallet

Journalist:
October 26, 2018

Cryptocurrency web wallet provider Blockchain has struck a deal with hardware wallet producer Ledger to manufacture a custom hardware device that will allow Blockchain users to seamlessly manage their online and offline funds through a single familiar interface.

Unveiled on Thursday, the Blockchain Lockbox, is, according to an announcement, a “first-of-its-kind hardware and software” solution. Leveraging the strengths of both companies, the Lockbox will provide Blockchain users with a way to move a portion of their funds offline, further securing them from hacks, while also having the option to leave funds in the firm’s non-custodial web wallet, which can be accessed apart from the hardware device.

“The Lockbox is a reflection of what our companies both do best. We’ve created an elegant software and hardware integration that offers more functionality than previously existed in our space. We’re thrilled to offer the Lockbox to Blockchain users so they can easily manage their funds online and offline seamlessly,” said Peter Smith, CEO and co-founder of Blockchain.

Source: Blockchain/Ledger

The device appears to utilize Ledger Nano S hardware, though it features custom Blockchain firmware rather than the standard version. Ledger said that deliveries of the device, which is now available for preorder for $99.99, should begin in mid-November.

“With stories about crypto hacking continuing to dominate headlines, it’s obvious that security must be top of mind for all stakeholders in the crypto space,” added Pascal Gauthier, president of Ledger. “With the combined forces of Blockchain and Ledger, users are truly getting the best of both worlds. Our partnership with Blockchain is the first of its kind, but as two companies hyper-focused on crypto security, it’s one that’s a natural fit.”

Notably, the announcement said that existing Ledger customers will have the option to pair their Nano S wallets to the Blockchain wallet, providing them with the abilities to manage their online and offline funds together as well as access Blockchain’s inter-wallet trading feature.

Trezor, another large cryptocurrency hardware wallet manufacturer, recently updated its wallet management interface to allow users to trade between cryptocurrencies via brokerage services ShapeShift and Changelly.

However, both Ledger and Trezor could soon face a stiff challenge from electronics giant Sony, who, as CCN reported, this week unveiled a cryptocurrency hardware wallet system that it said it plans to “commercialize” in the future. Sony’s wallet, which is the size of a credit card, uses contactless IC technology to store private keys offline while allowing users to easily sign transactions from NFC-enabled mobile devices.

Featured Image from Blockchain/Ledger

Last modified (UTC): October 26, 2018 01:02

Josiah Wilmoth @Y3llowb1ackbird

Josiah is the US Editor at CCN, where he focuses on financial markets. He has written over 2,000 articles since joining CCN in 2014. His work has also been featured on ZeroHedge, Yahoo Finance, and Investing.com. He lives in rural Virginia. Follow him on Twitter @y3llowb1ackbird or email him directly at josiah.wilmoth(at)ccn.com.