The whitepaper for Jack Dorsey’s crypto exchange project, tbDEX, outlines plans to bridge the gap between fiat and cryptocurrency.
Square, the online payments business founded by Twitter CEO Jack Dorsey, has formally issued a whitepaper outlining the workings of its new decentralized exchange platform, dubbed "tbDEX." According to the information provided, the protocol would enable users to deal in real time between the worlds of cryptocurrencies and fiat currencies (national currencies such as Rupees and Dollars), bridging the gap between physical and digital money. To do so, the tbDEX team is concentrating on developing "social trust" in the crypto world, so that more people may participate in and profit from cryptocurrencies' autonomous financial system.
The CEO of Square, Jack Dorsey says that the latest venture of the Bitcoin (BTC) platform will focus on developing a decentralized exchange.
Jack Dorsey, the CEO of Twitter and Square, is a vocal supporter of Bitcoin on social media. On Friday, he posted a link to a Bitcoin event called "The B Word," which is organized by the Crypto Council for Innovation (CCI). Elon Musk, the CEO of Tesla, was one of the first to reply to Dorsey's tweet, much to everyone's astonishment. The B Word is a global coalition of bitcoin industry experts dedicated to "demystify and destigmatize mainstream narratives about Bitcoin."