{"id":48459,"date":"2021-08-28T13:22:24","date_gmt":"2021-08-28T10:22:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=48459"},"modified":"2025-09-02T02:17:24","modified_gmt":"2025-09-01T23:17:24","slug":"jack-dorsey-to-spearhead-development-of-a-decentralized-bitcoin-exchange","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/jack-dorsey-to-spearhead-development-of-a-decentralized-bitcoin-exchange\/","title":{"rendered":"Jack Dorsey to spearhead development of a decentralized Bitcoin exchange"},"content":{"rendered":"<p>Jack Dorsey, head of Twitter, spoke about work on the open TBD platform to create a decentralized Bitcoin exchange (DEX) built on his Square payment company.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We\u2019ve determined @TDB54566975\u2019s direction: help us build an open platform to create a decentralized exchange for <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/t.co\/jHYWHy1qmu\">https:\/\/t.co\/jHYWHy1qmu<\/a><\/p>\n<p>\u2014 jack\u26a1\ufe0f (@jack) <a href=\"https:\/\/twitter.com\/jack\/status\/1431320761474617344?ref_src=twsrc%5Etfw\">August 27, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"\u00abutf-8\"\" ><\/script><\/p>\n<p>The head of Square&#8217;s Cash App payment unit and TBD lead Mike Brock offered further details.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe believe that Bitcoin will become the native internet currency. While many projects are working to increase internet decentralisation, our focus is squarely on a reliable global monetary system for everyone,\u201d he wrote.<\/p>\n<\/blockquote>\n<p>According to Brock, today acquiring Bitcoin is done through centralised services such as Cash App and Coinbase. He is convinced that the platforms face a number of issues, and they are not evenly distributed around the world.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Getting bitcoin today typically involves exchanging fiat at a centralized and custodial service like <a href=\"https:\/\/twitter.com\/CashApp?ref_src=twsrc%5Etfw\">@CashApp<\/a> or <a href=\"https:\/\/twitter.com\/coinbase?ref_src=twsrc%5Etfw\">@Coinbase<\/a>. These on- and off-ramps to Bitcoin have a number of issues, and aren\u2019t distributed evenly around the world.<\/p>\n<p>\u2014 Mike Brock (@brockm) <a href=\"https:\/\/twitter.com\/brockm\/status\/1431319756993282051?ref_src=twsrc%5Etfw\">August 27, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"\u00abutf-8\"\" ><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis is a problem we will solve. [\u2026] You can think of the project as a decentralized fiat exchange. As we have said, the platform\u2019s development will be fully public, with open-source code and an open protocol, supporting any wallet,\u201d Brock stressed.<\/p>\n<\/blockquote>\n<p>He also added that there will be no organisation or governance model to control TBD.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">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<p>\u2014 Mike Brock (@brockm) <a href=\"https:\/\/twitter.com\/brockm\/status\/1431319759002345476?ref_src=twsrc%5Etfw\">August 27, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"\u00abutf-8\u00bb\"><\/script><\/p>\n<p>Representatives of the non-custodial cryptocurrency platform Bisq suggested discussing a collaboration with Dorsey.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe\u2019ve spent the last five years building Bisq v1 to be the go-to peer-to-peer DEX for bitcoin power-users. Right now we\u2019re working on the second version,\u201d the developers wrote.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/jack?ref_src=twsrc%5Etfw\">@jack<\/a> \u2014 we\u2019ve spent the past 5+ years building Bisq v1 to be the go-to peer-to-peer DEX for bitcoin power-users.<\/p>\n<p>We\u2019re working on v2 right now to take on everyone else.<\/p>\n<p>Let\u2019s talk. Our heads together could result in something better than any of us could imagine.<\/p>\n<p>. <a href=\"https:\/\/t.co\/LVnVwfbKN7\">https:\/\/t.co\/LVnVwfbKN7<\/a><\/p>\n<p>\u2014 Bisq (@bisq_network) <a href=\"https:\/\/twitter.com\/bisq_network\/status\/1431378136747282433?ref_src=twsrc%5Etfw\">August 27, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"\u00abutf-8\"\" ><\/script><\/p>\n<p>In 2019, Bisq developers unveiled a new version of the DEX, which they described as \u201cthe most important milestone in the platform\u2019s development.\u201d<\/p>\n<p>Recall that in July Dorsey and Brock <a href=\"https:\/\/u1f987.com\/en\/news\/square-to-launch-bitcoin-focused-platform\">revealed<\/a> the first details about TBD. According to the Twitter head, the platform for non-custodial, inclusive, and <span data-descr=\"decentralized finance\" class=\"old_tooltip\">DeFi<\/span> services is intended to adhere to the principles of \u201cfull openness.\u201d<\/p>\n<p>Earlier Square <a href=\"https:\/\/u1f987.com\/en\/news\/square-confirms-plans-to-develop-a-hardware-bitcoin-wallet\">announced<\/a> the development of a hardware wallet and a service for storing Bitcoin. The development team was led by Square&#8217;s Head of Device Security, Max Giz.<\/p>\n<p>Read ForkLog\u2019s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Twitter head Jack Dorsey spoke about work on the open TBD platform to create a decentralized Bitcoin exchange (DEX) built on his Square payments company.<\/p>\n","protected":false},"author":1,"featured_media":48460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1533,787,1330,1534],"class_list":["post-48459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cash-app","tag-dex","tag-jack-dorsey","tag-square"],"aioseo_notices":[],"amp_enabled":true,"views":"33","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48459","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=48459"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48459\/revisions"}],"predecessor-version":[{"id":48461,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48459\/revisions\/48461"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/48460"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=48459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=48459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=48459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}