In a partnership with famed hardware security firm Ledger, Blockchain is marrying the best of their existing online wallet with crypto hardware. The “cold storage“, offline asset repository helps users keep their private keys off the web for an added layer of protection. The company announced their plans to release the product in November this Thursday (Oct. 25).
In the company press release announcing the project Peter Smith, CEO, and Co-Founder of Blockchain emphasizes that this new technology aims to be the warm hardware wallet solution the crypto-community has been lacking:
“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.”
The handheld device will be appropriately named Lockbox. The hardware wallet will not only protect digital assets it will allow crypto-to-crypto trades to take place through Blockchain’s brokerage “Swap,” which will be also coming out next week. Lockbox’s focus is integration, giving online account access, the ability to trade crypto, and cold hardware storage with just a single product.
At the heart of this partnership is a “hyper-focus” on security according to Ledger president Pascal Gauthier when commenting on the Lockbox collaboration. The companies feel it is their responsibility to create more secure crypto storage and trading solutions. Customers can order the new wallet or simply pair their Ledger Nano S to the online Blockchain Wallet to get access to the crypto-to-crypto trading feature.
Ledger’s interest in this project and partnership might not be merely for innovation’s sake, this past February they had detected a significant security vulnerability with their hardware wallet disseminating the idea that hardware is always safer.