Microsoft’s Next-Gen Hardware Products to Enhance Crypto Wallet Support, Legal Documents Reveal
Recent reports suggest that the forthcoming lineup of Microsoft’s hardware products may feature improved support for crypto wallets. Axios unveiled this information on a Monday, citing detailed documents that have surfaced as part of Microsoft’s ongoing legal battle with the US Federal Trade Commission. This dispute revolves around the tech giant’s ambitious $69 billion bid to acquire Activision Blizzard.
According to the disclosed documents, Microsoft is preparing to introduce a range of innovative products, encompassing gaming consoles, smartphones, web browsers, personal computers, and a novel “cloud system.” Notably, these devices are expected to offer enhanced functionality for crypto wallets.
In the realm of web3, crypto wallets serve a purpose analogous to physical wallets. However, it’s essential to clarify that a crypto wallet does not store cryptocurrency itself. Instead, it safeguards the confidential credentials known as private keys, which are necessary for accessing a cryptocurrency address on a specific blockchain.
Microsoft’s Next-Gen Hardware to Boost Crypto Wallet Functionality
Axios cautioned that Microsoft’s intentions might have evolved since the document’s release, and the company has not yet responded to media inquiries for clarification. Nevertheless, the mere prospect of one of the world’s most influential technology firms embracing cryptocurrencies more extensively across its product suite holds significant potential for the crypto industry.
Facilitating user-friendly access to web3 services for individuals unfamiliar with cryptocurrencies is pivotal for achieving the widespread adoption sought by crypto advocates.
Microsoft’s exploration of broader support for web3 services, including crypto wallets, in its next-generation hardware is just one facet of the company’s recent engagement with the crypto sphere.
Microsoft’s Expanding Presence in the Crypto Arena
Earlier this year, the tech giant announced a partnership with the layer-1 blockchain protocol Aptos, a project led by former Facebook employees responsible for the ill-fated Libra/Diem blockchain initiative. This collaboration was motivated by Microsoft’s ambition to develop new artificial intelligence (AI) blockchain products.
Aptos and Microsoft also entered into discussions regarding the creation of blockchain-based financial products, potentially expanding the utility of blockchain technology. These discussions encompassed areas such as asset tokenization and central bank digital currencies.
Additionally, Microsoft unveiled a collaboration with LeverFi during the summer, introducing an AI-powered solution aimed at addressing the challenges confronting the decentralized finance (DeFi) industry.