[qqqult]

hardware wallets are a safe transaction signing device NOT a seed storage device

You use them to sign transactions that are perfectly safe even if your computer / phone where you initiated the transaction is infected with malware. They give you a chance to confirm that the transaction you're signingon the hw wallet is the one you initiated on your computer.

> daily spend limit

> different panic codes

> Co-signing by third-parties

What you describe already exists in "software multisig wallets" on smart contract blockchains. In essence they're smart contracts that require n of m signatures to initiate a transaction and can handle variable spending rules, custom signing schemes, 3rd party signers, things like 2FA / email for signing. In theory they can be implemented for non-smart contract blockchains like Bitcoin using multi party computation schemes like FROST (https://github.com/ZcashFoundation/frost) but that's a lot harder