Square Crypto, a division of the mobile payments company of the same name co-founded in 2009 by Jack Dorsey, Twitter’s founder recently announced the hiring of Matt Corallo.
Last June, in fact, the company hired its first person to actively contribute to bitcoin. The first member to join the team was Steve Lee, former Google project manager and active bitcoin contributor.
Two months later, Jack Dorsey announced that he had hired another major figure in the bitcoin world. His name is Matt Corallo, one of the most active developers in the bitcoin community.
BIG NEWS: Please welcome @TheBlueMatt to Square Crypto. Woo! THINGS ARE HEATING UP EVERYBODY GET IN HERE LET’S PARTY 🌀🔥🌀🔥🌀🔥
*A lone figure watches from afar, their haunched shape a dark smudge against the gathering gray sky… Gary?*
— Square Crypto (@sqcrypto) August 20, 2019
Matt Corallo, in fact, is one of the co-founders of the well-known company Blockstream, as well as one of the major contributors to some implementations of Lightning Network, including the one developed in RUST. He is also the co-founder of Chaincode Labs, a research and development group focused on improving bitcoin.
Matt Corallo said that he hopes to be able to better address the problems related to the user experience present on bitcoin, thereby contributing to simplifying the use of the currency and its tools.
The Square Crypto team continues to grow with Matt Corallo
For the time being, the company has only hired two people out of the five planned. Two active contributors to the bitcoin project and a designer are missing, the latter has to be able to make the user interfaces of the various crypto wallets more user-friendly and straightforward.
Obviously, everything that the team will produce will be made open-source and available to the whole crypto community.
This initiative by Square Crypto started last March when Jack Dorsey announced he wanted to hire four engineers and a designer to contribute to bitcoin and other open-source projects in the crypto world. The reason, as explained in the various tweets, is quite simple: to repay the enormous contribution provided by bitcoin and other cryptocurrencies to the Square Crypto project.
Thanks to bitcoin, in fact, Square Crypto sold 125 million dollars of BTC in the last quarter through Cash App, recording a net doubling of the profits from the sale of cryptocurrencies. The company’s shares have grown by 50% since the beginning of the year, as a result of the increase in profits.