Twitter and Square CEO Jack Dorsey has revealed a major scheme to pay developers to build out the Bitcoin ecosystem with open source technology.
Dorsey Plans To ‘Give Back’ To Open Source
In a move which underscored the tech mogul’s appreciation of both cryptocurrency and freely accessible innovation, Dorsey said he will hire “3-4 crypto engineers and 1 designer” to contribute to crypto full time – and pay them in BTC.
The new staff will be loosely tied to payments gateway Square, which now has eighteen months’ experience in handling Bitcoin transactions.
Unlike the existing crypto-related projects at the company, however, the new developers will not have the goal of creating new products for Square specifically.
“This will be Square’s first open source initiative independent of our business objectives,” Dorsey explained in a series of tweets March 20.
These folks will focus entirely on what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests. All…