Twitter Exec and Crypto Enthusiast Jack Dorsey Offers to Pay New Hires in Bitcoin

Home » Twitter Exec and Crypto Enthusiast Jack Dorsey Offers to Pay New Hires in Bitcoin

Jack Dorsey is a well-documented cryptocurrency enthusiast – but now, it seems the entrepreneur is putting his money where his mouth is.

The 42-year-old has announced that his mobile payments company, Square, is planning to hire up to four crypto engineers and a designer who can “work full-time on open-source contributions to the Bitcoin/crypto ecosystem.”

In an interesting twist, the millionaire CEO said that the lucky applicants would be able to work remotely – and could also be paid in Bitcoin if they wanted.

Explaining the rationale behind the decision to offer crypto salaries,

Mr Dorsey said he had asked colleague Mike Brock what was the “most impactful thing” that Square could do in order to help the crypto community. According to the entrepreneur – who is also the co-founder and CEO of Twitter – the reply was: “Pay people to make the broader crypto ecosystem better.”

Mr Dorsey explained that the idea “resonated with him immediately,” and as a result, he was inspired to take action.

In a subsequent tweet, he added:

“Square has taken a lot from the open-source community to get us here. We haven’t given enough back. This is a small way to give back, and one that’s aligned with our broader interests: a more accessible global financial system for the internet.”

Mr Dorsey said that the roles being advertised aren’t necessarily geared towards furthering Square’s commercial interests. Instead, he described the vacancies as being focused on “what’s best for the crypto community and individual economic empowerment.” Indeed, delivering financial freedom has long been an aspiration for tech companies – especially considering the large number of consumers who are unbanked in developing economies.

The executive also delved deeper into why he wants to hire a designer – and argued that this element of the crypto industry has been “underfunded” and neglected for some time. Square’s Cash App enables users to purchase and sell crypto across America, and there are ambitions to roll out this product worldwide.

Mr Dorsey shared a webpage with his followers which shows the power that art and illustrations can have in promoting crypto’s potential – with the Cash App releasing a story called “My First Bitcoin and the Legend of Satoshi Nakamoto.” The vivid pictures, accompanied by short captions, almost resemble a children’s book, but help explain to everyday consumers why cryptocurrencies might represent the future.

As TUNF reported at the start of March, Square’s financial reports for 2018 have revealed that the company generated more than £125m in revenue from selling Bitcoin. Although a small proportion of its overall activity, the share of crypto transactions grew substantially over the course of the year – indicating that there is a growing appetite for the service.

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