Twitter CEO Announces New Bitcoin-Based Business Called TBD For Square

Twitter CEO Jack Dorsey has announced the creation of a new company focused on building an open developer platform for Bitcoin for his financial payments company Square.

The new company, named ‘TBD’, joins existing payment services like Seller, Cash App and Tidal) “with the sole aim of facilitating the creation of non-custodial, license-free and decentralized financial services,” Dorsey said in a tweet.

“Our main focus is on #Bitcoin. His name is TBD, ”he added.

Doresy said the company will do this completely openly, like its new Bitcoin hardware wallet.

“Open roadmap, open development and open source. @brockm is leading and building this team and we have some ideas on the initial platform primitives we want to build, ”he posted.

Square announced last month that it was investing $ 5 million in building an open source solar-powered Bitcoin mining facility with blockchain technology provider Blockstream Mining.

The facility will be a proof-of-concept for a 100 percent renewable energy Bitcoin mine on a large scale, with the economics of expansion – including operating costs and ROI – being made available to the public.

Dorsey has already announced that it will develop a hardware wallet for Bitcoin for the customers of its digital payment service provider Square.

The hardware wallet will be built completely openly, from software to hardware design, and in collaboration with the community, he said in a tweet.

“Bitcoin is there for everyone. It is important to us to develop an integrative product that brings an unsecured solution to the global market, ”he said.

–IANS

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(Only the headline and image of this report may have been revised by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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