After announcing the program in a tweet, Jack Dorsey followed up with some details:
This will be Square’s first open source initiative independent of our business objectives. These folks will focus entirely on what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests. All resulting work will be open and free.
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.
Whether you’re a devout Bitcoin hodler or an avid nocoiner, you have to admit this a great way (the greatest?) for corporate entities to support the open source community. Full-time salaries. Not focused on commercial interests.
Let’s hope it plays out that way! 🙏