Block which renamed itself from Square to rebrand itself as a blockchain platform is winding down its blockchain platform efforts.

Dare Obasanjo

It’s now clear that there is little value in blockchains and crypto as a technology platform. Crypto has found a niche as a form of speculative assets for financial risk takers and a tool for moving money around while avoiding regulation (e.g. ransomware payments, foreign remittances, etc).

Jack Dorsey dramatically scales back crypto ambitions for Block

Block said Thursday that it was "winding down" its TBD division, which had sought to create an open-source crypto development platform.

CNBC (www.cnbc.com)

Jon :fedora: :linux:

@carnage4life Maybe the silicon valley bubble surrounding crypto is about to burst if he is scaling back. Or he is focusing the crypto ambitions on Nostr instead.