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
https://www.theverge.com/2021/7/15/22579359/jack-dorsey-tbd-open-source-defi-crypto-square-bitcoin

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.'

Square is creating a new business (joining Seller, Cash App, & Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is #Bitcoin . Its name is TBD.

— Jack (@jack) July 15, 2021

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 want to introduce TBD's amazing founding team! @Emilycchiu @HetongLi @feather_flyer and Rebecca (Becca) Corcillo! Https://t.co/KEpzHkvNkg

— Mike Brock (@brockm) July 15, 2021

'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. '

I also believe that technology has always been a story of decentralization. From the printing press, to the internet to bitcoin --technology has the power to distribute power to the masses and unleash human potential for good, and I'm convinced this is the next step.

— Mike Brock (@brockm) July 15, 2021

'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.

As @jack said, we're going to be biasing towards being open and transparent. So we'll be sharing a lot more about our plans in the coming days and weeks. We're also going to be thinking of ways to include the community in our planning. So stay tuned!

— Mike Brock (@brockm) July 15, 2021

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 .