Home CryptoNews Companies It's Official Square Crypto Will Focus on Bitcoin and Its Ecosystem

It’s Official Square Crypto Will Focus on Bitcoin and Its Ecosystem

Through an ask me anything session via Twitter, Square Crypto project head Steve Lee made his remarks public by answering questions from users. While many thought Square Crypto might focus on developing its mother firm Square payment services, Lee cleared his firm’s role through the AMA.

While responding to a question touching on Square Crypto primary role, Lee said;

“Square Crypto will focus on only one coin Bitcoin, it has been there for the past ten years, but a lot has to be done for it to reach mass adoption.”

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When asked if businesses working in collaboration with Square will be able to incorporate Bitcoin as a payment option? Lee said;

“For that, you would have to ask Square. For us, we will focus on open-source Bitcoin development and hope our work will help improve service delivery for as many business and products as possible.”

While many thought Square Crypto’s role was to work on improvements for its payment services such as Square’s cash app, that’s not the case. From the AMA session, we learn that Square Crypto has another vision for the sector.

While responding to a question about what he has in store when it comes to supporting core developers, Lee divulged more on the Square Crypto plans saying;

“Our roles over at Square Crypto will be design-centric based and might lead to protocol development, infrastructure, and consumer UI. While we might complete some projects in the next three months, others might take us three years. However, all projects under development will run in coordination with the rest of the open-source Bitcoin community.”

Although Lee dodged questions about his team size, he said they had received more than 1,500 resumes of developers wishing to join Square Crypto. His hope is one developer will be picked from the above, and with the community’s approval, he/she will join his team. At the moment Lee has a team of 8 working alongside him in Square Crypto.

Although the AMA session was all about responding to participant’s questions, it shows Square Crypto and Square have different responsibilities. However, it indicates Lee and his team have their eyes set on Bitcoin and its ecosystem as a whole.

Alfonso Martínez
Alfonso Martínez
Cryptocurrency enthusiast since 2015, a lover of blockchain technology and everything around her. He joined the Crypto Economy team in 2018 as a content editor specializing in SEO. He is also responsible for the Social Networks of the platform.
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