{"id":11437,"date":"2021-08-29T08:54:34","date_gmt":"2021-08-29T08:54:34","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/jack-dorsey-discusses-square-building-a-bitcoin-native-dex-platform-project-lead-shares-insight\/"},"modified":"2021-08-29T08:54:34","modified_gmt":"2021-08-29T08:54:34","slug":"jack-dorsey-discusses-square-building-a-bitcoin-native-dex-platform-project-lead-shares-insight","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/jack-dorsey-discusses-square-building-a-bitcoin-native-dex-platform-project-lead-shares-insight\/","title":{"rendered":"Jack Dorsey Discusses Square Building a \u2018Bitcoin-Native\u2019 Dex Platform, Project Lead Shares Insight"},"content":{"rendered":"

On Friday, the CEO of Twitter and Square, Jack Dorsey talked about the decentralized exchange Square is constructing called \u201cTBD\u201d or the \u201cTBD BTC<\/a> DEX.\u201d First mentioned in July, Dorsey tweeted that the company has \u201cdetermined [TBD\u2019s] direction and he also shared a Twitter thread written by Mike Brock, the TBD lead at Square. <\/strong><\/p>\n

Jack Dorsey and Mike Brock Share TBD\u2019s \u2018Direction\u2019<\/h2>\n

Jack Dorsey has been talking an awful lot about the next steps Square has been taking in order to craft a hardware wallet<\/a> and decentralized exchange (dex) bitcoin (BTC)<\/a> platform called TBD. Dorsey tweeted about TBD on Friday and shared commentary from the project\u2019s lead Mike Brock<\/a>. \u201cWe\u2019ve determined @TDB54566975\u2019s direction: help us build an open platform to create a decentralized exchange for [bitcoin],\u201d Dorsey tweeted<\/a>. The TBD lead\u2019s tweet that was shared said<\/a>:<\/p>\n

There\u2019s been a lot of speculation about what TBD is and isn\u2019t. Over the last few weeks our team has been determining what needs to be determined. We wanted to finally share our direction, and we have some questions. We believe bitcoin will be the native currency of the internet. While there are many projects to help make the internet more decentralized, our focus is solely on a sound global monetary system for all. But including all requires a few pieces we think are missing.<\/p>\n

Solving Current Issues and Removing Barriers to Entry<\/h2>\n

Brock further said that in order to get bitcoin there are \u201ccentralized and custodial services\u201d like Square\u2019s Cash App or Coinbase. He detailed that these platforms can have issues and are not \u201cdistributed evenly around the world.\u201d<\/p>\n

Did I miss the meeting? https:\/\/t.co\/Y4n7iZwbu8<\/a><\/p>\n

\u2014 TBD (@TBD54566975) August 27, 2021<\/a><\/p>\n<\/p>\n

Brock insists this is the problem TBD aims to solve and the platform\u2019s goal is to \u201cmake it easy to fund a non-custodial wallet anywhere in the world through a platform to build on- and off-ramps into bitcoin. You can think about this as a [decentralized] exchange for fiat.\u201d Brock added:<\/p>\n

As we said, this platform will be entirely developed in public, open-source, open-protocol, and any wallet will be able to use. No foundation or governance model that TBD controls. Permissionless or bust.<\/p>\n

Brock also mentioned leveraging platforms like RSK in order \u201cfor this to be Bitcoin-native, top to bottom.\u201d The Lightning Network was also mentioned in Brock\u2019s tweetstorm alongside saying there needs to be a \u201c[solution] for exchange infrastructure between digital assets, like stablecoins.\u201d Dorsey\u2019s other team of developers at Bluesky are also in the midst of creating a decentralized social media service<\/a> that someday Twitter will adopt.<\/p>\n

What do you think about Square\u2019s attempt to build a Bitcoin-native dex application called TBD? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nDefi, @TBD54566975, Bitcoin, Bitcoin (BTC), Bitcoin-Native, Coinbase, decentralized bitcoin exchange, decentralized finance, DeFi, DEX, Dex platform, Jack Dorsey, lightning network, ln, RSK, Square, Square\u2019s Cash App, TBD, TBD BTC DEX, Twitter<\/p>\n","protected":false},"excerpt":{"rendered":"

On Friday, the CEO of Twitter and Square, Jack Dorsey talked about the decentralized exchange Square is constructing called \u201cTBD\u201d or the \u201cTBD BTC DEX.\u201d First mentioned in July, Dorsey tweeted that the company has \u201cdetermined [TBD\u2019s] direction and he also shared a Twitter thread written by Mike Brock, the TBD lead at Square. Jack…<\/p>\n","protected":false},"author":0,"featured_media":11438,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-11437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11437"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=11437"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11437\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/11438"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=11437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=11437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=11437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}