Decentralization of power on the internet is a major personal theme for Dorsey.
Tom Lee, the head of research at Fundstrat Global Advisors,"There isn't enough capital actually allocated toward crypto innovation, so it takes people like Jack Dorsey to really marshal focus," Lee said Monday on CNBC's "Tech Check."Square has also dialed up its crypto-focused projects this year. With Dorsey now free of his responsibilities at Twitter, many are keen to see what crypto tasks Square chooses to take on next.
The company launched bitcoin trading in 2018 with the Cash App, allowing users to buy and sell bitcoin. In 2019, the company formed Square Crypto, an independent team dedicated to contributing to bitcoin open-source work, and just last year, Square launched the Cryptocurrency Open Patent Alliance , a non-profit organization aimed at pooling patents to encourage crypto innovation.
Square said in July it was creating a new business dedicated to building decentralized finance applications for bitcoin, which "an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services."
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