TBD: Twitter CEO Jack Dorsey today announces that he wants to build a decentralized Bitcoin exchange. Dorsey has been one of the biggest Bitcoin advocate for years.
CEO Jack Dorsey Tweets ‘We’ve determined @TDB54566975’s direction: help us build an open platform to create a decentralized exchange for #Bitcoin’.
Square Owns TBD
“Square is creating a new business (joining Seller, Cash App, & Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is #Bitcoin. Its name is TBD,” Dorsey tweeted in July.
TBD as a decentralized Bitcoin exchange will be a global monetary system.
“We believe Bitcoin will be the native currency of the internet. While there are many projects to help make the internet more decentralized, our focus is solely on a sound global monetary system for all,” states TBD lead Mike Brock.
Mike Brock, the TBD lead at Square, said in a tweet Friday that there has been a lot of speculation about what TBD is and isn’t, but shared a handful of details about what direction the company will be going in.
Bitcoin A “Big Part” Of Twitter’s Future
Last month, Jack Dorsey confirmed to investors during Twitter’s second quarter earnings call that bitcoin will be a “big part” of the company’s future.
Dorcey said he sees opportunities to integrate the cryptocurrency into existing Twitter offerings. He hinted on commerce, subscriptions and other new additions like the Twitter Tip Jar and Super Follows.
“Bitcoin changes absolutely everything,” Dorsey said at the Bitcoin 2021 Conference. “I don’t think there is anything more important in my lifetime to work on.”