S15 E69: Zach Herbert on Passport Prime & The Future of Bitcoin Hardware Wallets

Today, Foundation Devices has announced Passport Prime: a device that goes beyond the hardware wallet functionality by offering features that you find in a Yubikey (Two-Factor Authentication) and on an encrypted storage device.

The Prime also comes with an online service which grants you access to a larger open source marketplace that significantly boosts the utility of the device. The first major app is going to be Cake Wallet, which opens up lots of possibilities for signing transactions with your Passport hardware wallet.

Listen to this interview with CEO Zach Herbert to learn more about how this new device from Foundation Devices words, and to also understand what's the vision for the future.

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Time stamps:

Announcing the New Passport Prime (00:01:49)
Competitive Landscape of Hardware Wallets (00:03:17)
The Challenge to Replace Trezor (00:03:17)
Introduction of the Passport Prime (00:05:25)
Features of the Passport Prime (00:06:54)
Expanding Digital Security (00:08:07)
Comparison to Steve Jobs' Presentation (00:08:34)
Open Source Platform Development (00:10:34)
Microkernel Operating System (00:11:46)
Unique Approach to Hardware Wallets (00:14:31)
Development Timeline for Passport Prime (00:15:20)
Competitor Analysis (00:17:17)
Innovation (and Stagnation) in Hardware Wallets (00:21:03)
Foundation's Bitcoin-Centric Approach? (00:24:33)
Comparison with Ledger's Closed Platform (00:25:57)
Developer Ecosystem and App Distribution (00:28:16)
Hardware Wallet Industry Challenges (00:29:50)
Market Position of Ledger & Trezor (00:30:36)
Foundation's Still Manufactured in the USA (00:35:26)
Manufacturing Changes in Ledger (00:35:41)
Pricing Strategies of Hardware Wallets (00:38:23)
Passport Prime Pricing and Features (00:40:09)
Competing with YubiKey (00:42:26)
Envoy Plus Subscription Service (00:43:05)
Passport Prime Packaging (00:44:40)
Shamir Backup Method (00:44:54)
Magic Backups Feature (00:46:02)
Privacy Concerns with Subscription (00:48:11)
Backup Management Options (00:51:20)
Open Source Elements (00:56:14)
Bluetooth Security Measures (01:00:19)
Support for Previous Generations (01:03:33)
User Interface Adaptation (01:03:55)
Product Support Commitment (01:04:55)
Price Stability for Passport Devices (01:05:30)
Future Mobile Phone Plans (01:07:23)
Operating System Development Challenges (01:09:31)
Optimization in Software Development (01:11:53)
Microkernel Operating System Vision (01:13:57)
Integration of Open Source Components (01:17:02)
Concerns Over Tropic Square's Project (01:18:28)
Future of Foundation Devices (01:22:37)
Open Source Benefits (01:23:27)
Firmware Updates and Security (01:24:11)
Backup Solutions (01:25:18)
Critique of Competitors (01:26:55)
CoinJoin Feature Discussion (01:29:23)
Regulatory Impact on Development (01:31:28)
Integration with Full Nodes (01:32:39)
Challenges of Node Development (01:34:03)
Ambitious Hardware Ideas (01:36:15)
AI Integration with Home Servers (01:37:05)
Listing and Integration Policies (01:39:45)
The Hardware Wallet Ecosystem (01:43:03)
Sandboxing Applications (01:44:12)
Customization and User Experience (01:45:51)
Gaming Features in Hardware Wallets (01:46:25)
Libertarian Principles in Bitcoin (01:49:29)
Market Competition and Ledger (01:50:34)
Review Unit for Mandrik (01:51:44)
Durability of Passport Prime (01:52:27)
Conspiracy Theories About Foundation (01:54:34)
Principles of Decentralization (01:56:53)
Nuance in Cryptocurrency Criticism (01:58:06)
Software and Distribution Analogies (01:59:54)
Shifts in Hardware Wallet Design (02:01:12)
Introduction to First Principles (02:03:00)
Privacy Magazine Mention (02:03:35)
Discussion on Limited Editions (02:05:00)
Existential Questions in Bitcoin (02:05:55)
Critique on Bitcoin Upgrades (02:07:11)
Jaded Perspectives on Bitcoin (02:08:10)
Pre-Selling Passport Prime (02:10:48)
Customization and Future Updates (02:12:09)
Homebrew Support (02:12:45)
Closing Remarks (02:13:28)