On November 29, 2021, Jack Dorsey, the founder of Twitter, decided to leave his functions within the company. But what fly could have stung him? Well, guess what, it’s Bitcoin. The latter seemed so optimistic about him, that he decided to devote himself fully to his company dedicated to this blockchain: Block (formerly Square). And his projects seem to be progressing. So of course, we are not yet at the universal income paid in BTC that he imaginesbut we are taking a step in that direction.
Jack Dorsey is in the Block
Jack Dorsey, through his company Block, had launched an application called Cash App intended to make payments between individuals easier. Since you just have to install it on your phone, to be able to transfer money between users.
However, if you want to test this application now, know that it is only available in the United States and the United Kingdom. However, this geographical restriction did not prevent the application from meeting a great success. Indeed, the service had 36 million active users as of March 21, 2021. But Block didn’t stop there.
In January 2018, the company announced that it was becoming possible to acquire bitcoins directly from the application. In order to allow its users to familiarize themselves with the queen of cryptocurrency.
Then the company acquired for $50 million Credit Karma Tax, a free self-complete tax filing service. This investment turned out to be strategic, since it was integrated into the CashApp application. It is thanks to this that an interesting news came to us…
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Convert your salary into BTC
Indeed, during the Bitcoin 2022 conference which took place in Miami, the Block company announced a suite of products affiliated with its credit card: the Cash Card.
Among these announcements, the company said that it is now possible for its users to define a percentage of their deposit, to be automatically reinvested in Bitcoin. Thus, it will be possible for them to convert a percentage of their salary into bitcoins for example.
However, the company does not seem as maximalist as its founder, because the app will expand its financial products to other sectors. Indeed, we were talking about automatic investment in Bitcoin. But it will also be possible to gain exposure to stocks or exchange-traded funds.
CashApp therefore seems to want to take the path of other FinTech companies, such as Revolut for example. The interesting point to note is that this option will allow its users to invest in DCA (investment strategy).
Lightning fast BTC transfers!
CashApp only offers Bitcoin among the cryptocurrencies that can be used in the application.
It is therefore natural that bitcoin transfers by the second layer solution Lightning Network were integrated into the application last January.
Like on the app Binance for example, it is possible to make instant transfers by scanning the QR of an application user. No more waiting 2-3 days to receive a transfer! Thanks to CashApp, the transaction is finalized in a matter of minutes! And all without the need to use a PC!
“This new feature furthers Cash App’s mission to make Bitcoin usable as currency. »
Jack Dorsey and his company therefore seem determined to make Bitcoin “the native currency of the internet”. This is also what is happening with Shopify, the benchmark for e-commerce sites, which also accepts bitcoin paymentsthrough a partnership with Bitpay.
While Jack Dorsey is crafting a world where everything is Bitcoin, it would be nice to start accumulating it! Ptake 3 minutes to register on Binancethe leader of the crypto ecosystem, in order to buy and exchange your first cryptocurrencies (affiliate link).