The crypto division of your company has sought to grow the use of Bitcoin worldwide with promising initiatives.
Jack Dorsey, CEO of Twitter, now invests in the development of Bitcoin, specifically in its design. With this philosophy, Dorsey shows to other companies that it is not enough to buy Bitcoin, it is necessary to invest in the growth and adoption of the technology.
In October Square bought U$ 50 million of Bitcoin to compose the company’s reserve. Since it bought the digital currency, Square has made bold bets on the future of cryptomoedas.
The company founded by Jack Dorsey even has a division dedicated to the development of crypto, called Square Crypto. On site, Sqaure today maintains eight scholarship holders to enhance Bitcoin design.
The move may be important to show that the technology community is involved with digital currency, far beyond the price of Bitcoin.
Twitter CEO company invests in Bitcoin UX design development
How to use Bitcoin today? How to transfer resources over the network, so talked about and valued nowadays? These are some of the questions of digital currency beginners, who, knowing its technology, are faced with something unique.
Bitcoin is in fact an unprecedented innovation in global financial technology. With currency it is possible, for example, to move millions in instants, paying minimum rates for the transaction. No matter where you are, in Brazil or Japan, Bitcoin is the same all over the world.
With this technological capacity, Square has hired its eighth stock exchange to further improve the experience with the currency. The new scholarship holder will be the Portuguese designer Patrícia Estevão, who works a lot with UX.
In 2019, Patrícia surprised the world with an article on Bitcoin’s Universal Design. The currency could have the reach it deserves among people from anywhere.
In a conversation with the Coindesk website, Patrícia showed her gratitude to Square for the opportunity. She will work with the UX development of Bitcoin, that is, help users to work easily with digital currency.
If her proposals are accepted by the Bitcoin community, which is open source, such modifications could be implemented. Patricia also said she hopes that the opportunity with Square Crypto will help improve Bitcoin design for future ecosystem decisions.
Company also supports „green“ Bitcoin mining
One of the „loose ends“ of Bitcoin technology is still the cost of mining. With the need for specific equipment to conduct the activities, it is common for Bitcoin to be cited for its high energy consumption.
However, Square announced last week that Bitcoin mining should be a green activity. At least, as far as its efforts are concerned, Bitcoin mining should have a reduction in energy consumption.
With the initiative launched last December 10, Square has determined that $10 million will be spent on developing the digital currency. The amount will be directed to companies in the ecosystem that promote green mining measures in Bitcoin.
This way, Square Crypto, founded by the Twitter CEO, invests heavily in the development of Bitcoin. Directly and indirectly, the company positions itself as a great currency enthusiast and has a promising path in the ecosystem.
In the past, companies like Blockstream and BitMEX have done the same and helped the currency jump in safety and usability. With the new remittance of interest from the companies, finally the Bitcoin path is full of opportunities.