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27 July 2021

Dorsey Plans DeFi on Bitcoin, Critics Point to Ethereum | Crypto Briefing

Dorsey Plans DeFi on Bitcoin, Critics Point to Ethereum | Crypto Briefing


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Dorsey wants to bring DeFi onto Bitcoin, but many people have said that his idea sounds a lot like Ethereum. .

The Twitter and Square CEO announced the project on Twitter last night, confirming that Square would be creating “a new business” focusing on building an open platform for “non-custodial, permissionless, and decentralized financial services.” He added that Bitcoin would be the “primary focus,” before posting a link to a new Twitter account for the project under the name TBD. .

He’s invested millions of dollars into helping Bitcoin adoption and said that he wants to make it “the Internet’s currency.” However, like many Bitcoin fans, he’s been less enthusiastic about other blockchains like Ethereum

Dorsey was matter-of-fact in his views at the time: when one Twitter user suggested that the move into NFTs showed Dorsey would soon buy ETH, he replied with a simple “No.” 

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