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Square Looking For New Work As Dorsey Says “There’s No Centralized Control”

 
Square Looking For New Work As Dorsey Says “There’s No Centralized Control”
Breaking News / Bitcoin / Cryptocoins / Crypto Market

Based in the United States, Square is hiring cryptocurrency engineers and is offering to pay them in digital currency, according to a tweet published by the CEO of Twitter and Square Jack Dorsey.

In the tweet, Dorsey announces that “Square is hiring 3–4 crypto engineers and one 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!”

Dorsey further commented that the decision to pay employees in cryptocurrency is based on the intention “to make the broader crypto ecosystem better,” thus contributing to the Bitcoin community.

In addition to this, Dorsey noted that this will be the first open source initiative independent from their business objectives as potentially hired engineers will primarily put its aim “what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests.”

Reports surfaced a few months ago that Square had registered $166 million in yearly Bitcoin revenue fo 2018. The firm achieved more than $50 million in Bitcoin sales for the fourth quarter of last year this was an added $9 million from the third quarter and $15 more million from the second quarter. However, clear profit from the Bitcoin operations, which involve Square’s consumer's app, Cash, as purchasing costs account for the vast majority of revenue.

Dorsey is known as an advocate of Bitcoin and last month he once again declared that he thinks the leading cryptocurrency is the internet’s native currency saying that Bitcoin “was something that was born on the internet, that was developed on the internet, that was tested on the internet…It is of the internet.”

He made these comments during an interview on the popular Joe Rogan Experience podcast on 2nd February. In May last year, he made a similar claim and noted that he sees Bitcoin as a choice for the internet’s native form of currency.

The Square app allows users to trade in Bitcoin and when asked by Rogan he there were any plans to list some more cryptocurrencies in the future, Dorsey said that there wasn’t any.

Speaking on the internet being transitioned to a system where any form of data can be created will be online forever, Dorsey said, “we’re moving to a world in which anything created exists forever, that there’s no centralized control over who sees what, that these models become completely decentralized and all these barriers that we, that exist today, aren’t as important anymore.”

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