{"id":12372,"date":"2023-06-16T12:24:03","date_gmt":"2023-06-16T12:24:03","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=12372"},"modified":"2023-06-16T12:24:04","modified_gmt":"2023-06-16T12:24:04","slug":"trezor-ceo-cites-usability-as-top-factor-for-hardware-wallet-btc-prague-2023","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=12372","title":{"rendered":"Trezor CEO cites usability as top factor for hardware wallet: BTC Prague 2023"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Amid the expanding trend toward self-custody, the CEO of\u00a0hardware wallet\u00a0manufacturer\u00a0Trezor, Matej Zak, has highlighted the most relevant development vector for the company so far \u2014 enhancing usability to significantly increase the number of users over the next few years.<\/p>\n<p>Speaking to Cointelegraph at the BTC Prague 2023 conference on June 9, Zak said: \u201cEducate hard and build simply\u201d is Trezor\u2019s most relevant strategy in developing its hardware wallets amid the growing demand for self-custody.<\/p>\n<p>\u201cYou need to explain what self-custody is because it\u2019s still a different concept. It\u2019s nothing that existed before Bitcoin, and Bitcoin has only been around since 2009,\u201d he added.<\/p>\n<p>While allowing investors to be their own banks, the concept of self-custody also makes users the sole responsible entity for the safety of their Bitcoin. The most important part of this responsibility is keeping your private key, or seed phrase, safe and private.<\/p>\n<p>Security, privacy and usability have always been key parts of self-custody as well as Trezor\u2019s proposition, Zak said. \u201cBut the usability, you know, plays a really important part,\u201d the CEO noted, adding that Trezor is still trying to make its hardware wallets as user-friendly as possible. The exec stated:<\/p>\n<p>\u201cUsability is the one where you want to make things easier, more simple to use. So all those people coming from exchanges can actually feel at home and not be scared by losing their private keys.\u201d<\/p>\n<p>By increasing usability, Trezor hopes to double or even triple the amount of hardware wallet users around the world in the next three to four years. Citing some estimates, Zak said that less than 2% of all 420 million crypto users globally currently use hardware wallets.<\/p>\n<p><em>Trezor CEO\u00a0Matej Zak at BTC Prague conference. Source: Cointelegraph<\/em><\/p>\n<p>Focus on usability is part of the reason the Trezor CEO also believes that complicated self-custody wallet setups like multisignature, or multisig, may not be the best solution for newcomers to the industry.<\/p>\n<p>Unlike common Bitcoin wallet setups, Multisig involves using more than one public key to authorize a transaction, which is designed to increase security of self-custody.<\/p>\n<p>\u201cSecurity at the expense of usability, comes at the expense of security,\u201d Zak said, referring to a quote by Bounce Security CEO Avi Douglen.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>North Korean hackers swipe over $100M from Atomic Wallet users<\/em><\/strong><\/p>\n<p>While focusing on usability and education, Trezor doesn&#8217;t plan to introduce any new built-in features to help users recover their private keys, though.<\/p>\n<p>According to the CEO, Trezor has done everything possible to help its customers secure their seed phrase. Zak mentioned implementations like the Shamir backup, which is often used to distribute the private key phrase among different locations. Introduced by Trezor in 2019, the Shamir backup is designed to keep user\u2019s Bitcoin safe from theft or accidents.<\/p>\n<p>\u201cThere&#8217;s nothing we could improve on in this regard because the usability is good,\u201d Trezor CEO said.<\/p>\n<p>The remarks from Trezor &#8216;s CEO come a few weeks after rival hardware wallet supplier Ledger teased a new tool allowing users to recover their private keys. Following criticism from the crypto community, Ledger later postponed the launch of Ledger Recover, with Ledger CEO Pascal Gauthier claiming that it was a \u201chumbling experience\u201d and the result of miscommunication.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>Peter McCormack\u2019s Real Bedford Football Club puts Bitcoin on the map<\/em><\/strong><\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/trezor-ceo-bitcoin-wallet-interview-btc-prague\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amid the expanding trend toward self-custody, the CEO of\u00a0hardware wallet\u00a0manufacturer\u00a0Trezor, Matej Zak, has highlighted the most relevant development vector for the company so far \u2014 enhancing usability to significantly increase the number of users over the next few years. Speaking to Cointelegraph at the BTC Prague 2023 conference on June 9, Zak said: \u201cEducate hard [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-12372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12372"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12372\/revisions"}],"predecessor-version":[{"id":12374,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12372\/revisions\/12374"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/12373"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}