Square Crypto’s grant to BTCPay will propel it miles into the future.
BTCPay, a new payment processor in the marketplace has been granted a hundred thousand dollars ($100,000) from a fellow Bitcoin payment processor firm that goes by the name, Square Crypto- which is based in Seattle, California and headed by Jack Dorsey who acts as the CEO at the firm.
Square Crypto announced of their chivalrous act on Twitter which seems to be the perfect choice for Jack Dorsey, who also happens to be the co-founder of the social media platform. Square Crypto’s twitter handle reads:
We’re giving a bunch of money to @BtcpayServer, a product that appears to be in direct competition with our mothership. It isn’t. Here’s why. #BH2019 #BalticHoneyBadger2019
— Square Crypto (@sqcrypto) September 14, 2019
Why so generous, Square Crypto?
A blog post from Square Crypto explains why they made the offering. The company believes in an environment that promotes the use of Bitcoin and the technologies that empower it. Square crypto has been Bitcoin fanbase from the very start and they want the Bitcoin ecosystem to thrive. Among other things, the blog post also highlighted the fact that this isn’t the only time when they’ll be making grants for the promotion of Bitcoin.
Enthusiasts have been waiting to hear it from twitter if the social media platform plans on introducing their form of cryptocurrency such as Facebook’s Libra. To their grief, Jack Dorsey had given a direct answer recently that they’d rather stick to Bitcoin and the open standards that they work on.
Square Crypto expects BTCPay to put their newfound assets to good use, stating that BTCPay has the liberty to do whatever they want with the amount as long as it involves making something free and open source employing either or all of the key features that are the pinnacle of what Bitcoin is based on, namely, privacy, security, BTC fungibility, and consumer satisfaction.
BTCPay is a relatively new firm that has been up and running for two (2) whole years. Though it still is difficult ordeal for BTCPay when concerning financial matters. The firm need support from corporate entities until it learns to eke out on its own.
