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Square Crypto head emphasizes pro-Bitcoin goal

Image Credit: www.pymnts.com

Tue, 30 Jul 2019, 07:20 am UTC

Square Crypto’s project manager Steve Lee said the company is focused on bitcoin and not its specific products during an ask-me-anything (AMA) segment on Twitter on July 29.

Our goal is Bitcoin for all. We are focusing on improving the Bitcoin experience for mainstream users. The user journey will always be central to our thinking,” Lee, a former Google director, who is the first appointee of Square Crypto, wrote.

It appears that most participants think that Square Crypto was made to enhance crypto users’ experience, but Lee underscored that the team is not focused on improving the Cash App’s functionality. He further described the payments service company of Twitter co-founder Jack Dorsey as “an open-source initiative” that is meant to support the bitcoin ecosystem.

In addition, Lee said the crypto business has no plans of launching its own cryptocurrency yet. Describing Bitcoin as “a great brand,” he further commended the cryptocurrency for being resilient, principled, and native to internet ideals.

We are very, very pro-Bitcoin. There is more than enough work for us to do there. That said, we are open to emerging use cases and technologies that complement Bitcoin.

The Twitter segment came days after Cash App, Square’s payments app, initiated a Bitcoin giveaway worth $50,000 as its stock price continues to soar.

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