diff --git a/setup.py b/setup.py
index deb7c594..625f12bd 100644
--- a/setup.py
+++ b/setup.py
@@ -5,7 +5,7 @@ with open("README.md", "r", encoding="utf-8") as fh:
 
 setuptools.setup(
     name="seedsigner",
-    version="0.7.0",
+    version="0.8.0-rc1",
     author="SeedSigner",
     author_email="author@example.com",
     description="Build an offline, airgapped Bitcoin signing device for less than $50!",
diff --git a/src/seedsigner/controller.py b/src/seedsigner/controller.py
index f0a95287..37d80e47 100644
--- a/src/seedsigner/controller.py
+++ b/src/seedsigner/controller.py
@@ -99,7 +99,7 @@ class Controller(Singleton):
         rather than at the top in order avoid circular imports.
     """
 
-    VERSION = "0.7.0"
+    VERSION = "0.8.0-rc1"
 
     # Declare class member vars with type hints to enable richer IDE support throughout
     # the code.