Twitter CEO Jack Dorsey Wants to Bring DeFi to Bitcoin

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Jack Dorsey, the founder and CEO of Square and also the CEO of Twitter, has announced the creation of a new division in Square, focused to making decentralized monetary (DeFi) companies. on Bitcoin.

On Twitter on July 15, Dorsey stated that like Square’s new Bitcoin hardware wallet, the new solutions will be fully open supply.

“Like our new #Bitcoin hardware wallet, we will be doing this completely open-ended. Open roadmap, open development and open source. Mike Brock is leading and building this team, and we have some ideas around the early platforms we want to build.”

Like our new #Bitcoin hardware wallet, we’re going to do this wholly in the open. Open roadmap, open improvement, and open supply. @brockm is main and making this staff, and we have some thoughts all-around the first platform primitives we want to construct.

— jack (@jack) July 15, 2021

The new merchandise will mix the efforts of CashApp, Seller and Tidal in the similar objective of delivering decentralized monetary companies.

Recently Dorsey has proven good curiosity in Bitcoin. During the Bitcoin 2021 conference, the Twitter CEO even announced that he would depart Square or Twitter if the improvement of BTC grew to become much more crucial.

“Bitcoin wholly transformed almost everything. I do not consider there is anything at all much more crucial in my lifestyle,” Dorsey stated.

“If I wasn’t at Square or Twitter, I would be working on bitcoin. If [bitcoin] need more help than Square or Twitter, I’m leaving for bitcoin. But, I believe both companies have a role to play.”

Since then, Dorsey has produced additional strides in the Bitcoin area. He initially announced an occasion known as The B Word that aimed to shed light on the mainstream narratives surrounding Bitcoin. Later, Square’s head of hardware, Jesse Dorogusker, announced the improvement of a new hardware wallet, stating the objective of generating Bitcoin custody much easier.