The World’s Most Downloaded Financial App, Square Are Beginning To Support Bitcoin!

Square helps millions of sellers run their business- from secure credit card processing to point of sale solutions.

They state in their about us section that “We believe everyone should be able to participate and thrive in the economy.”

They continue to state “We believe the economy is better when everyone has access. When everyone has room to grow. No one should be left out because the cost is too great or the technology too complex.

So we’re building easy tools to empower and enrich people. Tools that shorten the distance between having an idea and making a living from it—because we believe in fair and square.

We started with a little white card reader but haven’t stopped there. Our new reader helps our sellers accept chip cards and NFC payments, our Cash app lets people send money instantly, and we’re building easy tools for customers, too.”

Ever since the start, square has been making accepting payment simpler and easier for small businesses around the world. Their small white card reader solved the problem for many merchants from street vendors to student organizations conducting fundraisers in being able to accept credit card payments.

They have recently deployed square capital to let small business’ access funding in a manner that addresses their needs.

And now they are continuing to stick to their mission of creating easy tools to empower and enrich people by running a test pilot in allowing users to buy, sell and hold bitcoins. At the present moment though they will not allow people to make payments to others with the cryptocurrency which is what square cash is known for. Square cash is a simple app that allows you to quickly pay friends in dollars.

This is another interesting move for the payments company that is widely adopted by many users . When the company rolls out a way to make bitcoins usable when it comes to paying merchants and friends that’ll be even more interesting.

Jack Dorsey, the CEO of twitter and square has expressed his views on bitcoin in a variety of interviews, he’s stated that “Blockchain technology and Bitcoin are the next big unlock.” He noted that the term is usually applied to accounting but has the capability to “be applied to so much more.”

But he does caution on integrating the blockchain into everything “I think there are going to be a bunch of people who say, ‘Blockchain, let’s go apply it everywhere’ and ‘Let’s try to solve every single problem with it. In the same way that we try to solve every problem with machine learning and data science and deep learning and artificial intelligence. And I think we need to be more thoughtful. What are people struggling with? How does the technology help them progress or does it distract them?”

Jack may have gotten some clues from people in his hometown in their questions to him on their wanting to buy bitcoin “”I said why do you want to buy Bitcoin, and they said, I heard it was a fast, easy way to make money. So I said, you want to treat it like an investment, and they said yes, someone said it’s like digital gold… It was just amazing how mainstream the brand is,” Jack said.

This is a significant occurrence due to the New York Times reported fact “In recent months, though, Square Cash has quietly bypassed Venmo to become the most frequently downloaded financial app of any kind on both Apple and Android phones, according to Apptopia.”

Providing more utility can provide more exposure for both Square and bitcoin.

Check out a video of it here

By | 2017-11-16T18:15:52+00:00 November 16th, 2017|News|0 Comments

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