President Donald Trump has made his first public comments on the Tron wallet technology, which has become a lightning rod for controversy over the past few months.
The president has repeatedly called the technology “a scam,” which he has said is designed to trick consumers into handing over their credit card information to Tron, a company he launched last year in an attempt to circumvent the security of traditional bank cards.
Trump’s comments to the Wall Street Journal came after the Trump administration announced a new security measure to protect the Trons privacy and identity.
Under the new rule, Tron will have a new secure account number, a PIN that can only be used by Tron and its software, a password to unlock the device, and a unique security code that is generated by the Trondons own software.
The company says the new account number will be used only for security purposes and the Tronding phone will not be used for fraud.
Trondons new password will be encrypted with a strong passphrase, the company said in a blog post Thursday.
The company also said it has hired security experts to help with the project.
“The Trondon wallet will be a completely secure way to keep your information safe, securely stored, and protected from unauthorized access,” the company wrote.
“Trondon Wallet will also allow for a more secure and secure user experience.”
The Trondonten wallet has become the subject of a lawsuit filed by the Electronic Privacy Information Center, a nonprofit group that supports digital privacy.
“It is clear that Trond on its own cannot prevent fraud,” EPI director Matt Blaze said in an email.
“Its clear that the Tronds own code does not even remotely meet that standard.”
But privacy experts said they were disappointed by Trump’s comments.
“He’s not taking the Trontons privacy seriously,” said Alex Abdo, a privacy researcher at cybersecurity firm FireEye.
“This is an extremely risky security practice that should be avoided at all costs.”
While Trump has repeatedly denied any ties to Trond, he has repeatedly referenced the Tronde Wallet in public.
Trontun Technologies is a New York-based company founded by CEO Matt McIlroy and former PayPal executive Paul Polman.
The startup offers a digital wallet service for consumers that allows them to store and access credit and debit cards from credit and bank accounts.
Tronding was founded by former PayPal CEO Tony Bosch, and it was acquired by Trondondun in 2013 for $1.2 billion.