According to Square Crypto, “there is growing concern that ‘patent lockup’ could stifle innovation and adoption from bitcoin to the most obscure cryptocurrency.”
The coronavirus pandemic has hit restaurants, retailers and millions of other small businesses hard. Now, a blockchain startup is attempting to mitigate the economic impact of COVID-19 for companies who have been forced to close their doors. Enterprise blockchain developer Tatum’s nonprofit Save Your Business project is designed to deliver much-needed cashflow to firms that saw their income practically dry up overnight.
Twitter founder Jack Dorsey’s Bitcoin-friendly payment processing company Square is among the fintechs taking part in the U.S. Paycheck Protection Program, potentially offering a more nimble platform to quickly get loans and grants to small businesses slammed by the coronavirus pandemic.
On April 7, Twitter and Square founder Jack Dorsey tweeted on his @jack account that he will give $1 billion—more than a quarter of his fortune—to fight the COVID-19 epidemic. After that, the funds will be used to advance health and education initiatives for girls, and advocate for universal basic income.
