The cryptocurrency industry has been dominating the financial world in recent weeks with Bitcoin’s current surge in its trading price. Emerging from a ‘crypto winter’ that led to a steep decline in all cryptocurrency market value, things are heating up.

In breaking news on ArmyOfBitcoin.com, Square mobile payment company is close to releasing Square Crypto. Valued at $32.7 billion, Square’s entry into the market would be significant to say the least. Founded by Twitter CEO Jack Dorsey, the company is getting close to launching its much-anticipated crypto project.

See How Square’s Online Payment Center Accept Card Payments Anywhere & Now Expands Payment Services With Crypto Project

One of Dorsey’s most recent tweets @jack was reprinted as follows:

Square Crypto @jack

We are close to making our first hire. So let’s set some expectations. True to @jack’s founding tweets, we are building open source projects that will make mass adoption not just possible but inevitable.

Our goal isn’t to make money, but to improve it.

— Square Crypto (@sqcrypto) May 21, 2019

We are close to making our first hire. So let’s set some expectations. True to @jack’s founding tweets, we are building open source projects that will make mass adoption not just possible but inevitable.
Back in March of this year, Dorsey went on record as saying that Square would hire three or four developers and one designer. The sole task of this group was to work on an open-source Bitcoin ecosystem. His actual tweet as that time read:

Square is hiring 3-4 crypto engineers and 1 designer to work full-time on open source contributions to the bitcoin/crypto ecosystem. Work from anywhere, report directly to me, and we can even pay you in bitcoin!
While many Bitcoin developers work on a volunteer basis, Dorsey is interested in funding the growth of Bitcoin directly through Square Crypto. A reprinted tweet from March 20 read:

Are you currently contributing to bitcoin-core or other crypto ecosystem projects for free in your off-time? We’d like to pay your to do it full-time. If interested, DM@SqCrypto, and follow for updates on our progress. Thank you!

Dorsey began meeting with potential candidates for this project in April. Many came from various Bitcoin Core developers and members of the BTCPayServer. Although the Square CEO is set to take the lead on this project, he is more interested in improving the bitcoin ecosystem. Dorsey has also stated that the goal is not making more money for Square. In a direct quote he stated:

“These folks will focus entirely on what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests. All resulting work will be open and free.”

Lighting Labs is a startup on the Lighting network. Dorsey has already invested $2.5 million on this project concerning integration along with co-founder Elizabeth Stark.

Summary

Article Name

Square Set to Expand Payment Services With Crypto Project

Description

Square's Online Payment & Credit Card Processing Center Accept Card Payments Anywhere & Now Expands Payment Services With Crypto Project.

Author

Vladimir T

Publisher Name

Army Of Bitcoin

Publisher Logo