Bitcoin DeFi is Twitter CEO Jack Dorsey’s New Goal
After announcing that payments company Square is working on a Bitcoin hardware wallet, Twitter CEO Jack Dorsey is now set to create a new business line that will help developers build financial services products on Bitcoin.
In a series of tweets on Thursday, Dorsey said, Square is “building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services.”
The business whose primary focus is Bitcoin doesn’t have a name yet, or it’s ‘TBD,’ about which people are really concerned as to what it means.
Great to see companies committed to building non-custodial, open, decentralized, permissionless money for the world.
It won’t be the immediate goal of most financial corporations as they may see it as reducing their power.
But those who can look past that will build the future. https://t.co/I0tKcaTEGL
— Alex Gladstein 🌋 (@gladstein) July 15, 2021
Dorsey’s San Francisco-based digital payments company has three business lines: Cash App, which allows buying and selling Bitcoin, Square Seller products, and Tidal, a music-streaming service acquired by the company earlier this year.
“Like our new Bitcoin hardware wallet, we’re going to do this completely in the open,” he tweeted. “Open roadmap, open development, and open source.”