Man behind the iPod launches new cryptocurrency wallet

Honouree and founder of Nest, Tony Fadell, arrives at the Time 100 gala celebrating the magazine's naming of the 100 most influential people in the world for the past year in New York, on April 29, 2014.LONDON – Tony Fadell, a well-known Silicon Valley executive known as the father of the iPod, on Tuesday unveiled his latest project – a hardware wallet used to store cryptocurrency offline.

After quitting Apple in 2008, he launched Nest Labs, a smart home-devices company. Nest was later acquired by tech giant Google for US$3.2 billion . Trading crypto requires the use of complex cryptographic keys, which are used to authorise transactions. These keys are typically stored online, for example with an online exchange, which can leave them more susceptible to hacking or theft.more than US$1 billion of customer funds vanishPrevious models released by Ledger, such as the Nano S and Nano S, have been shaped like USB memory sticks.

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