Twitter’s CEO Wants To ‘’Give Back’’ To The Crypto Ecosystem By Hiring Crypto Engineers

Jack Dorsey, CEO of Twitter and Square, made an announcement that he is trying to ‘’give back’’ to the crypto ecosystem by hiring four full-time crypto engineers and one crypto designer in his team. In our blockchain news today, we read why Dorsey decided to do so.

Dorsey stated:

‘’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.’’

The Twitter CEO stated that the newly employed engineers will be reporting directly to him so this has the community baffled and in questions about who will the developers serve-the crypto community or Dorsey himself.

For example, if the growing bitcoin development poses a threat to the Square-related developers will they still are left alone to do their work. Dorsey’s power shows how influent he is in the bitcoin development community so users are not particularly happy with this decision. On this issue, Dorsey stated:

‘’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.’’

The CEO of Twitter is one of the most important bitcoin advocates. Last year on the Consensus event he said that he wants Bitcoin to be adopted and hopes for the number one cryptocurrency to become the native currency of the internet. He also stated previously that he wants to be involved in any action that will lead crypto into the mainstream and that is one of the reasons he launched the Square Cash app.

Last year revenues for Square show consistent growth. In the first half of 2018, the revenues reached $71 million while profits reached $0.6 million. In the second half, Bitcoin revenues increased to $95 million and profits increased up to $1.047 million. Dorsey has also invested personally in Bitcoin as well as in many BTC startups after he participated in Lightning Labs’ funding round which raised $2.5 million.