Jack Dorsey, the CEO of both Twitter and Square, announced a plan to create a “new division” tasked with building a platform for cryptocurrency development.
“Dorsey” indicated in his tweet published yesterday, that the new service will be as a subsection of “Square”, along with the “Tidal”, “Seller” and “Cash” divisions, and will facilitate decentralized financial services, with a special focus on bitcoin.
Mike Brock, a Square executive, will head up the new division.
Dorsey is known to be a longtime proponent of blockchain and bitcoin technology.
At the Miami Bitcoin conference in early June, Dorsey told that if he wasn’t working on Twitter and Square, he would be working full time on Bitcoin.
Dorsey recently confirmed Square’s plans to develop a Bitcoin hardware wallet.
Hardware wallets are generally considered more secure than hot online wallets such as Metamask or Rainbow.
Our new Bitcoin hardware wallet, we will develop it completely in the open.
With an open roadmap, open development, and open source.
Dorsey also plans to hold a conference called “The B Word” with the aim of getting more institutional adoption of Bitcoin.
Among the speakers and attendees at this conference are ARK Fund Manager Cathy Wood and Adam Buck, CEO of Blockstream.