Us based payment service square is hiring crypto engineers while offering to pay them for their service in digital currency. This is according to a tweet sent out by Square CEO Jack Dorsey March 20.
In that tweet, Dorsey announced that;
“Square is hiring 3–4 crypto engineers and one 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!”
He went to state that the decision to pay the soon to be recruited engineers in digital currency is based on the intention “to make the broader crypto ecosystem better,” which will contribute to bettering the crypto community.
Dorsey also noted that this will be the first open source initiative independent from their business objectives as potentially hired engineers will focus entirely on “what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests.”
Square has had tremendous success in relation to crypto-currencies having registered $166 million in Bitcoin revenue last year alone. It doesn’t end there, Square also hit an impressive $52 million in Bitcoin sales in Q4, which beat Q3’s sales by 9 Million and $Q2’s by more than $15 million. Clear profits from the Bitcoin operations which involve Square’s consumer cash app, remain low, as purchasing costs account for the vast majority of revenue.
Dorsey, a known Bitcoin advocate himself went on to declare that he believes Bitcoin is the internet’s native currency.
“[Bitcoin] was something that was born on the internet, that was developed on the internet, that was tested on the internet…It is of the internet.”
Dorsey’s endorsement of Bitcoin paints a picture of how a vast number of top industry players have evolved in their perception and hardline stances on crypto-currency. If you go as far back as mid last year you will recall the slapping of social media bans on crypto advertisements. This was eventually lifted, with social media giants such as Facebook, making a serious foray into crypto.
Traditional financial institutions such as Fidelity bank, and Santander in Spain have also followed suit. JPMorgan have taken it a step further though, with the release of their crypto token dubbed “JPM Coin”. More recently, we saw citi- the third largest bank in the US- drop plans of rolling out their own coin, but promise to continue exploring cryptos.
Square’s announcement that it will be bringing in crypto staff further proves what we have been saying here at cryptonewsbytes. Opportunities are abound for crypto experts and will continue to grow for the foreseeable future.
Image courtesy of Bbsblog.org
