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  • Square to hire three to four blockchain engineers and a designer in a bid to “make the broader crypto ecosystem better.”
  • The news of Square crypto and the new hires come after Square App posted record-high Bitcoin sales.

The CEO of the social media giant Twitter Jack Dorsey shared the news that his second company, Square was going to hire between three to four blockchain engineers who will work on “open source contributions to the bitcoin/crypto ecosystem.” In addition to the blockchain engineers, Square will also hire a designer.

Just yesterday, Dorsey announced the launch of Square Crypto. It is an initiative his company is taking to reward the people in order to “make the broader crypto ecosystem better.”

It is clear that the CEO wants to impact the crypto industry and help sail it in the right direction. In fact, he asked the head of strategic development at Square, Mike Brock “what is the most impactful thing we [Square] could do for the bitcoin community?” It is this conversation that led to the development of Square Crypto. Dorsey wrote on Twitter:

“Last week I was considering my hack week project, and asked @brockm: “what is the most impactful thing we could do for the bitcoin community?” His answer was simple: “pay people to make the broader crypto ecosystem better.” This resonated with me immediately, so we’re doing it.”

He continued:

“This will be Square’s first open source initiative independent of our business objectives. These folks will focus entirely on what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests. All resulting work will be open and free.”

Jack Dorsey has been very bullish about Bitcoin in the recent past. Besides, he once said that Bitcoin will in future become the currency of the internet. The news of Square crypto and the new hires come after Square App posted record-high Bitcoin sales performed via its mobile application. It is clear that Square is preparing for the future while banking on the success of Bitcoin and other cryptocurrencies.