After stepping down as CEO of Twitter, Jack Dorsey is able to devote himself full time to his other company. Square, a well-known online payment company, changed its name in December last year to Block.
Like Facebook, which has become Meta (because of its metaverse), the Block company will focus on cryptocurrencies and the blockchain. Dorsey’s goal is to make mining more accessible and profitable, while also addressing hardware availability and reliability issues.
Simple as plugging in a socket
According to the CEO, the current mining system is not enough of an incentive given the complexity of setting up and managing a mining unit (involved for the average person who is not computer literate) and should be as simple as plugging a computer into an outlet.
Therefore, Block has decided to embark on the creation of a bitcoin mining system based in particular on a new type of silicon specially designed for this activity. The goal is to make mining “more distributed and efficient in every way, from purchase and operation to installation and maintenance.”
A necessity for a future decentralized economy not tied to different countries according to Thomas Templeton, General Manager of Teams. The company has not yet communicated any timetable, but given Jack Dorsey’s enthusiasm for cryptocurrencies, there is no doubt that this is one of Block’s priorities.
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