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Square opens new Bitcoin business named TBD: Jack Dorsey

Source From: IANS 2021-07-17 12:20:12

Twitter CEO Jack Dorsey has announced to create a new business focused on building an open developer platform for Bitcoin for his financial payments company Square..

Called ‘TBD,' the new business joins existing payments services like Seller, Cash App and Tidal) "with the sole goal of making it easy to create non-custodial, permission-less, and decentralised financial services, Dorsey said in a tweet.

"Our primary focus is #Bitcoin. Its name is TBD," he added.

Doresy said that like its new Bitcoin hardware wallet, the company is going to do this completely in the open.

"Open roadmap, open development, and open source. @brockm is leading and building this team, and we have some ideas around the initial platform primitives we want to build," he informed.

Square last month said it is investing $5 million to build an open-source, solar-powered Bitcoin mining facility with blockchain technology provider Blockstream Mining.