Introducing Passport: an Elegant and Secure Bitcoin hardware wallet

Bitcoin passing $11k signals a new bull market, with incredibly exciting times ahead for Bitcoiners as we prepare to welcome a new flood of users into the ecosystem. But we must ask ourselves – how will new Bitcoiners store their coins? Will they use Coinbase, who already holds almost 1 million Bitcoin? Or will they embrace sovereignty, privacy, and ownership by self-custodying their own Bitcoin? 

Foundation Devices believes that today’s hardware wallets make the wrong security and design tradeoffs. They’ve worked for us early Bitcoiners so far because we are willing to deal with difficult interfaces, metal seed backups, safety deposit boxes, Shamir’s Secret Sharing, and so much more. But they won’t work for the new wave of incoming Bitcoiners as we reach mass-adoption by the end of this decade.

Bitcoin needs a hardware foundation that is beautifully designed, easy to use, and open source. Most of today’s hardware, including Ledger wallets, are closed source. As Bitcoin’s market cap grows to the trillions, so do the incentives for attackers to compromise closed-source hardware. We must rebuild today’s hardware stack to be open source, auditable, and verifiable – from the chips to the circuit boards to the firmware and beyond.

Foundation is taking our first step on this journey by introducing an elegant, secure, and open source hardware wallet named Passport. We are thrilled to officially announce Passport today, and are accepting reservations for our first edition batch of 1000 units. 

So what makes Passport special? Passport is designed to be elegant; something every Bitcoiner would be proud to carry. We use high quality materials like soft-touch plastic and copper-plated zinc alloy. At 4 inches long x 1.5 inches wide x 0.8 inches thin, Passport is comfortable to hold and use.

Passport’s interface is intuitive and familiar, with a simple navigation pad and physical alphanumeric keypad. There’s no need to learn how to navigate the menus and enter PIN numbers and passphrases – you already know how to use Passport. 

To sign transactions, simply insert a microSD card or scan a QR code. Wallets like Bluewallet already support multi-QR transmission, and Passport is compatible with any software wallet that supports PSBTs over microSD or QR. 

Passport is open source and uses the same high-level security architecture and firmware base as Coldcard, with a Microchip secure element and STM processor. The circuit board designs and firmware will be published on Github in the coming weeks, with hardware licensed under CERN’s Open Hardware License V2 and firmware under GPL3. No unknown code will run on the device.

Completely airgapped, Passport is powered by two AAA batteries and includes no USB port, Bluetooth, or wireless communications of any kind. Passport has numerous security features, such as security lights and an avalanche noise source for entropy. And Passport uses more trustable components, like a screen with circuitry etched directly into glass, which allows for easy inspection at production.

Foundation Devices, headquartered in Boston, is focused on building open hardware for Bitcoin and the sovereign Internet. We will proudly assemble Passport in the USA.

We cannot wait to tell you more about Passport in the coming weeks! Passport will launch for preorders in August and will ship by late December. We have already received over 500 email reservations for our first edition batch. 

Learn more about Passport and reserve yours below!

And feel free to check out the FAQs and contact us at hello@foundationdevices.com with any questions.

Preorder

Preorder the Passport Founder’s Edition today, limited to 1000 units!

$299.00Add to cart

Bitcoin and a revolution in American manufacturing

Foundation Devices is proudly headquartered in Boston, the birthplace of the American Revolution. The USA was established 244 years ago on the belief that all individuals deserve life, liberty, and the pursuit of happiness. Bitcoin captures these same ideals, providing sound money that lowers our time preference, allowing us to accumulate savings and invest in our future. 

At Foundation, our mission echoes these values:

Foundation Devices strives to empower humankind – to make Bitcoin and decentralized tech accessible to each and every individual in order to build a new era of sovereignty, ownership, and privacy. Our products are the foundation of a better, sovereign Internet.

Foundation will push for a new American Revolution – a revolution in American manufacturing. 

Before Bitcoin, American manufacturing of electronic devices added cost without adding proportional value. For example, a phone manufactured in the USA is not necessarily more useful or higher quality than a phone manufactured in China. Buyers in the USA might be excited to pay more for the phone because it’s “Made in the USA,” but there is no functional benefit to making the phone locally.

Bitcoin changes this. With immutable transactions on the Bitcoin blockchain, there is no recourse if funds are stolen. There’s no bank to reverse the transaction, no credit card company to issue a refund, no FDIC insurance to protect institutions against loss. Bitcoin devices must securely store private keys and safeguard against numerous attack vectors. This turns traditional hardware security models upside down.

Currently most electronic devices originate from China. You may be comfortable with the risks of having your phone made in China. But what about your Bitcoin hardware wallet?

We are at the beginning of a slow transition to sovereignty and privacy. Bitcoin wallets will replace bank accounts. Private keys will replace passwords. Money, identity, and data will be controlled by individuals instead of institutions.

In this new paradigm, we need more trustable hardware. We need components from reputable suppliers and tight control over supply chains. We need to be physically present on the factory floor and ideally own our own manufacturing facilities. We need open source, auditable designs. And we need to build our hardware in jurisdictions which stand for basic human rights and freedoms.

Yes, in America our unalienable rights are regularly being put to the test, recently with a Coronavirus-fueled government push for greater surveillance capabilities and a ban on end-to-end encryption. But Foundation is optimistic that Americans will prevail. Groups like the EFF are vigorously fighting for our freedoms – and countless individuals and organizations will continue to speak out. 

Foundation will assemble our devices in the USA. We say “Assembled in the USA” rather than “Made in the USA” because most components originate from Asia. This is sadly the state of the hardware industry; almost nothing is made in America anymore. To mitigate this, Foundation is purchasing key components – such as the processor, secure element, and screen – from reputable suppliers that are headquartered outside of China (specifically STMicroelectronics, Microchip, and Sharp). And we are buying all our components through American distributors like Arrow who have high quality standards and strong supply chain oversight.

So what exactly are we doing in America?

  1. We are headquarted in America and pay American taxes.
  2. We design our products in America.
  3. We prototype our products in America, using equipment from American companies like Formlabs and American quick-turn prototyping facilities.
  4. We purchase components exclusively from American distributors or suppliers.
  5. We assemble our circuit boards in America.
  6. We assemble and test our devices in America.
  7. We package and ship our devices in America.
  8. We conduct regulatory testing at American facilities.
  9. We work with an American industrial design firm.

Foundation will strive to continuously onshore our supply chain. This will increase our costs, as American labor is more expensive, but the benefits are significant and it will enable us to build more trustable devices. We believe our customers will be willing to pay a modest premium for sovereign hardware made in the USA.

We have a lot of work to do. It’s not enough for key components to originate from outside of China. We need to bring semiconductor production back to the USA so that critical chips can be produced domestically. We need more efficient processes for plastic and metal production so that we can build enclosures locally. And we need to competitively produce common circuit board components, such as resistors and capacitors, in America. Tariffs will help us, as well as other government incentive programs. Foundation will be leading the charge!

Our first product, a Bitcoin hardware wallet called Passport, will be assembled in the USA. We’ll be publishing more info about Passport over the coming weeks. Pre-orders will open later this summer for shipping later this year.

Preorder

Preorder the Passport Founder’s Edition today, limited to 1000 units!

$299.00Add to cart

Shopping Cart
Your cart is empty
Calculate Shipping
Apply Coupon