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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 âGive Backâ To Open Source
In a move which underscored the tech mogulâs appreciation of both cryptocurrency and freely accessible innovation, Dorsey said he will hire â3-4 crypto engineers and 1 designerâ to contribute to crypto full time â and pay them in BTC.
The new staff will be loosely tied to payments gateway Square, which now has eighteen monthsâ 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.
âThis will be Squareâs first open source initiative independent of our business objectives,â Dorsey explained in a series of tweets March 20.
These folks will focus entirely on whatâs best for the crypto community and individual economic empowerment, not on Squareâs commercial interests. All resulting work will be open and free.
#BitcoinTwitter and #CryptoTwitter! Square is hiring 3-4 crypto engineers and 1 designer to work full-time on open source contributions to the bitcoin/crypto ecosystem. Work from anywhere, report directly to me, and we can even pay you in bitcoin! Introducing @SqCrypto. Why?
â jack (@jack) March 20, 2019
Square Crypto Is Born
He added his inspiration for the idea did come from Squareâs crypto team, specifically Mike Brock, who told him building out the wider ecosystem would be âmost impactful thing [Square] could do for the bitcoin community.â
âSquare has taken a lot from the open source community to get us here. We havenât given enough back,â Dorsey continued.
This is a small way to give back, and one thatâs aligned with our broader interests: a more accessible global financial system for the internet.
The work will take place under a new entity dubbed âSquare Crypto,â which already features its own Twitter page and sports Bitcoinâs Latin motto, âvires in numeris.â
The announcement has received praise from online commentators.
âThis is how open-source development should work,â writes Bitcoin Twitter personality WhalePanda. âSuccessful companies contributing to open-source software that their company is build on. Sadly most companies donât do this. Great example of why no one needs an ICO/premine/founders rewards. Thanks jack.â
Twitter, Square And Bitcoin Integration
As Bitcoinist reported, Dorsey has taken a progressively more pro-Bitcoin stance in public forums since the start of 2019.
After previously predicting Bitcoin would become something of a de facto internet currency within just 10 years, the executive surprised many when he became involved in the Lightning Network in February.
Following his participation in the Lightning Torch transaction relay, Dorsey began to discuss the technology and its potential future at both Twitter and Square.
The appearance of Lightning at both companies, he implied, was a matter of ânot âif,â but âwhen.ââ
At the time, he likewise queried what would be the most efficient manner to expand the profile of Bitcoin in particular, having hinted elsewhere that altcoins were not a priority for him.
âI love this technology and community,â he continued Wednesday.
Iâve found it to be deeply principled, purpose-driven, edgy, andâŠreally weird. Just like the early internet! Iâm excited to get to learn more directly.
The rubric for applicants hoping to apply for the new developer positions simply consists of âcurrently contributing to bitcoin-core or other crypto ecosystem projects for free.â
The announcement gained immediate praise from the cryptocurrency industry, develop Matt Odell calling it âawesomeâ and payment network Abraâs CEO Bill Barhydt describing it as a âbrilliant move.â
In terms of Lightning Network meanwhile, users can already test using micropayments on Twitter via an implementation of tipping service Tippin.me.
What do you think about Jack Dorseyâs hiring plans? Let us know in the comments below!
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