Financial Giant Says Bitcoin (BTC) and Crypto Adoption Unstoppable – Plus Ripple and XRP, Ethereum, Litecoin, Tron and Cardano
From the mass adoption of Bitcoin to XRP’s big tease, here’s a look at some of the stories breaking in the world of crypto.
Global payment processing giant Square says it will make mass adoption of Bitcoin inevitable. In a viral tweet, the newly formed Square Crypto is touting plans to boost the crypto ecosystem. Led by Square and Twitter CEO Jack Dorsey, the company says it’s going full throttle.
We are close to making our first hire. So let’s set some expectations. True to @jack’s founding tweets, we are building open source projects that will make mass adoption not just possible but inevitable.
Our goal isn’t to make money, but to improve it.
— Square Crypto (@sqcrypto) May 21, 2019
Back in March, Dorsey laid out the company’s initial hiring plans.
“Square is hiring 3-4 crypto engineers and 1 designer to work full-time on open source contributions to the bitcoin/crypto ecosystem. Work from anywhere, report directly to me, and we can even pay you in bitcoin! Introducing @SqCrypto.”
The San Francisco-based mobile payments company integrated Bitcoin buying and selling on its Cash App in January of 2018, and reported a 72% jump in sales in the first quarter of 2019.
The app, which allows users to transfer money to one another, ranks as the #1 finance app in the App Store. In August of 2018, when it reached 33.5 million downloads, it surpassed Venmo’s 32.9 million.
Global automotive supplier Bosch is testing an Ethereum-based solution for connecting machines via smart contracts. The company is running prototypes on Ethereum, reports Decrypt.
“The multinational would not reveal how exactly it intends to use Ethereum and its handy smart contract tech. But a quick appraisal of Bosch’s latest use-cases and friendly declarations about open source tech enables us to hazard a guess.”
Ripple and XRP
Thailand’s Siam Commercial Bank (SCB) is teasing potential future support for XRP.
In response to a question on Twitter, the bank confirmed it’s currently using Ripple’s enterprise blockchain solution xCurrent for cross-border payments, and tells users to “wait for further announcement” regarding XRP.
We will be using Blockchain Technology for ripple but as for XRP, you may have to wait for further announcement.
— SCB Thailand (@scb_thailand) May 22, 2019
The latest episode of The Lite Podcast is out. The new edition features an in-depth look at the Lightning Network from the recent Magical Crypto Conference.
Tron’s file-sharing platform BitTorrent is hosting an ask-me-anything with Binance. The event will cover the latest on the platform’s integration with the Tron network, which is set to launch in the second quarter of this year.
— BitTorrent Inc. (@BitTorrent) May 21, 2019
Cardano creator Charles Hoskinson just released a new video outlining Shelley’s upcoming testnets. The coming upgrade Shelley promises to bring smart contracts and a new level of decentralization to the platform.