A brand new bitcoin wallet service has recently been launched by Safello and users are now being allowed to make requests to be invited to use the service.
The API used by Blockchain will initially be leveraged by the bitcoin company, which is based in Sweden, when it first launches its wallet service. It will,however, build upon the more basic functionality of the Blockchain API and allow users of the wallet to look for other users they have traded with in the past giving the wallet an added social aspect.
Safello made the announcement of its new wallet at a conference held recently in Sweden called the Sthlm Tech Fest. The conference hosted a number of top bitcoin companies including KnCMiner, Safello and Blockchain along with payment providers like iZettle and Stripe.
With no formal press release issued about the impending release of the new bitcoin wallet Safello had originally intended to keep things low profile. The news of the service, however, still managed to get leaked onto reddit which was proof of how much people were looking for a service like this, according the Frank Schuil, the CEO at Safello.
Schuil also advised that users would be allowed access to the bitcoin wallet slowly over the next few months and asked that users bear with them as access to the service will not be given to everyone that has applied straight away.
With the new bitcoin wallet offering a range of additional features similar to those of an online address book it will allow users to find people they are looking for quickly and easily, so much so that the company is selling the wallet as ‘so easy that even your mom could use it’.
Safello have also included a transaction timeline similar to that of Twitter and Facebook making it something that many users are used to and this will including the replacement of bitcoin addresses with the users name, if their account has been verified, along with comments and pictures.
These additional features also serve as a form of extra security for users as they can now be sure who their bitcoin transactions are going to, as long as the person they send to has verified their account. Also, because the Safello wallet uses Blockchain’s API for the creation of the wallet the company itself does not keep any of the private keys that are used.
The panel session in which the announcement was made included a number of well know speakers including Sam Cole, the co-founder of KnCMiner, a company that mines for bitcoins and last year raised series A funding of $14 million, and Nicholas Cary, the CEO at Blockchain.
Sean Percival, a venture partner with 500 Startups was also in attendance as the moderator of the panel session.
In terms of momentum in the bitcoin market Safello launched back in April and has since become the ‘Coinbase of Europe’. The company believes that it has reached a significant milestone to be included in this latest conference.