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).

https://www.cnbc.com/amp/2024/11/08/jack-dorsey-dramatically-shutters-blocks-tbd-crypto-unit.html

https://media.mas.to/media_attachments/files/113/459/034/937/946/650/original/1929fe8a023efb37.jpeg

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.