Proton, the Swiss tech company behind ProtonMail, is taking a stab at the crypto world. They're rolling out Proton Wallet, a self-custody Bitcoin wallet. It's a bold move.
The new product will be baked into ProtonMail. Users can zap bitcoin around as easily as firing off an email. No fuss, no muss.
Proton's CEO, Andy Yen, is pumped about it. "Bitcoin's been held back by clunky transactions and security worries," he said. "We're tackling both head-on with Proton Wallet."
Yen reckons this could be a game-changer. He claims it'll make Bitcoin transactions "as easy to use as PayPal". But here's the kicker - it'll keep Bitcoin's decentralized, non-custodial nature intact.
For Proton, this isn't just business. It's personal. Back in 2014, PayPal froze their crowdfunding campaign. Bitcoin saved their bacon. "That's when we first got the power of Bitcoin," Yen reminisced.
Fast forward to 2023. Credit Suisse, Proton's bank, hit the skids. Proton's Bitcoin stash? It was a lifesaver. Talk about a plot twist.
Dingchao Lu, Proton Wallet's head honcho, is all in on the Bitcoin dream. "We want to cut the cord with centralized financial institutions," he declared. Lu's not just talking the talk. Proton's been hodling Bitcoin since 2016. It's paid off big time.
So, how does this wallet work? Both sender and receiver need Proton Wallet. You just need an email address to send Bitcoin. Easy peasy. Proton's got some tricks up its sleeve to keep things private, too.
Here's the rub: it's not using Lightning Network yet. "It's a tough nut to crack for non-custodial wallets," Yen admitted. But they're not ruling it out for the future.
Right now, Proton Wallet's in early access mode. Only Proton Visionary users and some Bitcoin bigwigs can use it. But they're planning to roll it out to all Proton users down the line. Buckle up, folks. This could be interesting.