- Square’s CEO Jack Dorsey is hiring crypto experts for his new decentralized financial system aimed at advancing the Internet-based financial system.
- Dorsey says the initiative is a way of giving back to the larger crypto community
- He has hinted that the blockchain engineers will be required to develop solutions that would empower the global cryptocurrency community
Jack Dorsey, CEO of Square Inc., has announced plans to hire several cryptocurrency engineers and a designer to work on Square’s new project aimed at developing an open source financial system that would benefit the entire cryptospace, reports Fortune.
Fostering mainstream crypto adoption
In a bid to promote broader adoption of Bitcoin (BTC), ether (ETH) and other digital assets, crypto-friendly Square Inc. has announced plans to launch Square Crypto, a decentralized, open source project that would focus on creating solutions for the advancement of the entire crypto community.
Dorsey has revealed he’s hiring a few cryptocurrency engineers and a designer who will have the choice to work from anywhere across the globe, report directly to him and get paid in bitcoin.
The crypto experts will be required to develop solutions that would promote an accessible internet-based financial ecosystem for the good of all.
“#BitcoinTwitter and #CryptoTwitter! 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! Introducing @SqCrypto. Why?” tweeted Dorsey on March 20, 2019.
In November 2017, Square integrated bitcoin into its Cash App, to make it possible for users of its payments solution to trade bitcoin at no charge rate seamlessly and the move has proven to be a forward-thinking maneuver ever since.
Giving back to the cryptospace
According to Fortune, the New York University alumnus has stated categorically that Square Inc., has benefitted immensely from the open source crypto community and as such it makes sense to create an initiative that would contribute to the continuous growth of the decentralized crypto and blockchain space.
In his words:
“Last week I was considering my hack week project, and asked @brockm: “what is the most impactful thing we could do for the bitcoin community?” His answer was simple: “pay people to make the broader crypto ecosystem better.” This resonated with me immediately, so we’re doing it,” Dorsey tweeted on March 20, 2019.
Dorsey has made it clear that the project will focus entirely on empowering individuals and the larger crypto community, “not on Square’s commercial interest.”