Cryptocurrency

Bitcoin caused an internal dispute on Square’s platform

“Square’s decision to allow users through mobile applications to buy and sell bitcoin was a” fairly controversial move within the company and is still a source of internal tensions, “said the company’s CEO yesterday Jack Dorsey.

Jack Dorsey, who is also Twitter’s head at a New York Cryptosynthesis conference, reiterated his support for the Bitcoin virtual currency, but noted that not everyone is agreeing with this venture at Square, including members of the Management Board.

“In our company we have a lot of healthy skepticism over all the issues and therefore everyone has the right to express their opposition to this technology,” Dorsey said. “We never hide the fact that there is a lot of skepticism in the Square, a lot of intense conversations, disagreements, even quarrels, but there is the magic of things.”

The aforementioned added that the “sound discussion” about bitcoin was extended to the board of directors of the company, without so far looking at specific facts about this issue.

In January, Square, a US-based company based in San Francisco, widely known for its groundbreaking ideas, has begun to allow users on the platform to buy and sell bitcoin, which really made a great impression on the general public , as it happened to one of the world’s largest internet companies.

Bitcoin supporters say this action can help democratize the choices for people who want to trade, offering a way to bypass banks and governments, and so transactions are carried out at the lowest possible cost, without hidden fees and charges.