Mobile payment service 'Square' announces Bitcoin-focused platform 'TBD'

Twitter founder Jack Dorsey is also the founder of Square, a mobile payment service that has been making great strides in recent years. In a Twitter post dated July 16, 2021, Dorsey announced that he will launch a new 'TBD' focused on cryptocurrency (crypto assets) Bitcoin in Square's business.

Square's new Bitcoin business unit is TBD --The Verge

Below is a post by CEO Dorsey. 'Square is creating a new business focused on building an open developer platform with the single goal of'easily creating administrator-free, free-participation, and decentralized financial services.' Our main focus is Bitcoin. The name is 'TBD'. ' Since TBD is an abbreviation for 'To Be Determined,' it is not possible to determine at the time of writing an article whether the name of the business is undecided or the business is named 'Undecided.'

Dorsey said that TBD is headed by Mike Brock . 'I'm excited to prove that we can build a great business on top of free and open software,' Brock said in his post about TBD.

'I believe technology is always following the story of decentralization. From printing presses to the Internet to Bitcoin, technology empowers the masses and unleashes human potential for the good. I'm sure this is the next step. '

'As Jack says, we value being open and transparent, so we plan to share many of our plans in the coming days and weeks. We're also looking at ways to include the community in our plans. Stay tuned! ”Brock said.

Square already has a crypto team Square Crypto, but according to Dorsey CEO, Square only invests in Square Crypto and does not indicate the direction to go. Square Script announced the developer product 'Lightning Development Kit (LDK)' in 2020, but TBD has a different goal and direction to 'create a platform business'. The focus is on 'making it open source,' Dorsey explained .

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