Jack Dorsey hunts crypto, fintech dream job Twitter | Local company

Jack Dorsey, a native of St. Louis and co-founder of Twitter and Square, listens to speakers at a press conference to announce the creation of a burn elimination zone in the Wells Goodfellow neighborhood of St. Louis on Friday July 19, 2019. Photo by David Carson, [email protected]

David Carson

By Krystal Hu and Sheila Dang Reuters

At a busy conference in Miami in June, Jack Dorsey wondered in front of thousands of attendees where his true passion was: “If I wasn’t on Square or Twitter, I would be working on bitcoin.

On Monday, Dorsey caught up with some of that, announcing he would be leaving Twitter for the second time, handing over the CEO job to a 10-year veteran at the company. The 45-year-old entrepreneur, who is often described as an enigma with interests ranging from meditation to yoga to fashion design, plans to pursue his passions, which include focusing on running Square Inc. and do more philanthropic work, according to a source familiar with his plan.

Long before the new surprise, Dorsey had laid the groundwork for its next chapter, seeding both companies with crypto-related projects.

Underpinning Dorsey’s larger vision is the principle of ‘decentralization’ or the idea that technology and finance should not be concentrated among a handful of gatekeepers, as it is now, but rather should. be ruled by the hands of many, be they individuals or entities.

The concept unfolded at Square, which created a division dedicated to working on projects and awarding grants with the aim of increasing the popularity of bitcoin around the world.

Dorsey is a long-time supporter of bitcoin, and the appeal is that the cryptocurrency will allow private and secure transactions with the value of bitcoin unrelated to any government.