Square confirms its willingness to set up cryptocurrency units. Jack Dorsey wants to contribute to the cryptocurrency ecosystem with a new project.
The CEO of Square Jack Dorsey said he wanted to hire some cryptocurrency engineers and a designer to do work that will help advance an accessible, Internet-based financial system for the benefit of the financial community and consumers.
From what has emerged, new employees can work from wherever they want, report directly to Dorsey and, if they wish, they can also be paid in Bitcoin.
"I love this technology and this community. I found it deeply based on principles, goal-oriented, cutting and ... really strange. Just like the early days of the internet! I am excited to learn more “Tweeted Dorsey on Wednesday afternoon.
Already today Square allows you to buy and sell Bitcoin on its Cash App, a mobile payment platform that competes with Venmo. Dorsey stated that Square "took a lot from the open source community ", And therefore this would have been his way of" giving back "to the community itself some value, also helping to promote Square's" wider interest "of having an accessible financial system for the Internet.
"This will be Square's first open source initiative, regardless of our business goals. These people will focus entirely on what's best for the cryptocurrency community and individual economic empowerment, not on Square's commercial interests“Wrote Dorsey. "All the resulting work will be open and free".