Since people spotted the Twitter account of 'Square Crypto' (
@sqcrypto) there has only been questions and speculation. We were unsure if this even was the same Square, the payment processing company that shares the same CEO/founder with Twitter, Jack Dorsey.
Well it just became official - as the first tweet with some real information was sent announcing their first executive hire, Steve Lee. Steve is a former Google director, where he worked on projects such as Glass and Maps.
On his personal LinkedIn, he lists that he's been a volunteer Bitcoin project manager over the last year, and here we get a glimpse into his vision for the future of crypto...
- Being a Bitcoin Core contributor by reviewing and testing changes, adding testing and documentation, and coding/refactoring
- Helping the Core project with project management and communication
- Helping businesses building on Bitcoin get access to resources to improve their business and the Bitcoin ecosystem through education, training, support, etc.
- Helping aggregate ecosystem feedback for Core devs
- Publishing content to the Bitcoin community to aid in understanding Bitcoin's progress and future direction
What we still don't know - what will Square Crypto do exactly?
The Square app is focused on sending P2P debit card payments, but currently allows buying and selling of Bitcoin, and Bitcoin only. So perhaps an app centered around crypto, and offering more coins is coming soon.
But the big question is - will Square implement crypto payments into their POS systems? This would be a move where overnight, crypto would suddenly be accepted at hundreds of thousands of retail stores across the US.
Many merchants simply don't understand crypto yet, and are too intimidated to accept it. But Square has everything needed to offer instant conversation to USD, which would leave retailers with no valid reason to not accept crypto payments.
What do you think we can expect from Square Crypto? Tweet us
@GlobalCryptoDev
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Author: Oliver Redding
Seattle News Desk
