Artcle: Tropic Square, a SatoshiLabs/Trezor startup, received investment of 4 mil EUR to develop the first open-source security chip in the world

Money, Open Governance, Open Source
Evzen Englberth (CEO) on the left and Jan Pleskac (CTO) on the right

Tropic Square, a SatoshiLabs/Trezor startup, received investment of 4 mil EUR to develop the first open-source security chip in the world

“The initial motivation for the whole project was the need for a microprocessor solution for Trezor. However, thanks to the closed source settings of the chip manufacturers, we couldn’t find an ideal solution. Although the community has asked for a so-called secure element, a chip that is inherently designed to prevent unauthorized access and protect cryptographic or confidential data, it would not be the right, most secure solution, due to non-transparency. So we took on the development of a transparent secure chip ourselves and believe that the next model of the Trezor will have an open source chip from Tropic Square.

At the same time, we believe that this revolutionary chip can succeed outside the realm of cryptocurrencies. With this particular chip, we are heading for a market which was worth over 3 billion dollars in 2018,” says Marek Palatinus, CEO of SatoshiLabs.

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