Square Adds Steve Lee to Crypto Team

Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company Square has announced the appointment of Steve Lee, an ex-director at Google, as the first member of its new crypto team.

The US-based company, however, did not specify Lee’s role, neither did it mention his position at the company. Square only teased the new appointment via a tweet on June 13.

Hey guys. Management again. Unfortunately, things didn't work out with Gary. However, we think we've found somebody who can live up to his commitment to decentralization. Please welcome Steve Lee, aka @moneyball, to the Square Crypto team.

— Square Crypto (@sqcrypto) June 12, 2019

Lee left Google in 2015 after serving it for more than eight years. At the search engine giant, he worked on projects involving mobile applications to its research and development arm.

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Core contributor

According to his Linkedin profile, Lee is currently working as a volunteer Bitcoin project manager and is helping the community to “increase the velocity of development, improve the user experience, improve the storytelling, [and] ensure decentralization.”

He is also a Silicon Valley angel investor and is holding stakes of startups including Highlighter, StyleSeat, Anchor Labs, Bytegain, Alto Financial, and Halo Neuroscience. His successful exits include Lyft, Pinterest, Yardbarker, Lil Green Patch, and Foodspotting.

Launched as a mobile-based payment platform, Square extended its support towards cryptocurrency trading in November 2017 by the launch of its peer-to-peer Cash app. The platform had more than 15 million active customers in December 2018, doubling its userbase from a year earlier. The company is headed by Twitter’s founder and CEO Jack Dorsey.

Dorsey last March announced that the payments company is going to focus more on its Cash App and will hire a dedicated team for crypto.

Square has taken a lot from the open source community to get us here. We haven’t given enough back. This is a small way to give back, and one that’s aligned with our broader interests: a more accessible global financial system for the internet.

— jack ??? (@jack) March 20, 2019

Earlier this year, Finance Magnates reported that Square recorded $65 million in Bitcoin revenue in Q1 2019, however, the profits from the trades were capped at only $832,000.