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Square to Hire Bitcoin Contributors

by Alan Daniel

The San Francisco based mobile payment company Square has started to hire bitcoin contributors who know their way in and out of cryptocurrencies, said Jack Dorsey in a tweet this Wednesday night.

For the first time since it was founded, the payments company announced that it will hire independent Bitcoin developers that will report directly to Jack Dorsey, its founder and CEO. These Bitcoin developers will be lasered focused on moving the Bitcoin initiative forward. In an even more interesting move, Jack Dorsey will be paying these future bitcoin developers directly in the leading digital asset class, bitcoin.

In his twitter thread, Dorsey said that Square has benefited greatly from the open source development community, and will hire this additional personnel as a way of giving back to the community. The CEO also remarked that this initiative goes in line with pushing the company’s “broader interests” to develop a global financial system for the internet.

Dorsey and Consensus
In May 2018 at the Consensus conference in May 2018, Dorsey stated his belief that the internet should have its own currency, and bitcoin might just fit the bill. As a company that has global payments ambitions, Square is quite likely doubling down on what it believes to be one segment in the future of finance.

Dorsey is aiming to hire personnel that is able to contribute and help push bitcoin adoption further, as such, he’s interested in hiring designers to improve the overall user experience when interacting with the Bitcoin protocol. According to Dorsey who has been dubbed “Bitcoins most unlikely champion,” a great design will result in more people gaining faster and better access to the emerging financial technology.

Dorsey and Bitcoin
Dorsey’s sudden actions to enable growth within the cryptocurrency world shouldn’t catch anyone by surprise. After all, he was one of a handful of early investors in Bitcoin‘s Lightning Network, through Lightning Labs, a solution proposed to fix its scaling problem. Dorsey has also added a bitcoin exchange feature within Square’s Cash App, allowing for simple buys, sells and withdrawals of bitcoin.

Dorsey has also been present in the media as he’s made appearances on shows such as Joe Rogan Experience, Marty Bent’s Tales from the Crypt, and other talks. As such, Jack has not simply talked the talk, he’s walking the walk in regard to bitcoin in more ways than one.

Paid Personnel Matter For Crypto Networks
Over the first half of this bearish year, we’ve seen crypto networks such as ETC, and cryptocurrency exchanges and companies such as Bithumb who have had to downsize and lay off personnel. We’ve also witnessed a problem within the Ethereum community where it seems as if there’s a lack of full-time focus on the ethereum blockchain itself, leading to delays and potential issues in progress. As such, a move by a forward-thinking financial services company such as Square to help fund development should add significant value to the bitcoin network.

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