• Square's Cash app

    Square expanding Bitcoin services on Cash app

    Is this an indication that more businesses will accept bitcoin as a form of payment in the U.S.?

    Square, a company best known for its popular point-of-sale and payment processing suite, announced on Monday that it would be expanding Bitcoin services offered in its Cash app. Thus the No. 1 finance app in the iOS App Store will allow users to buy and sell the cryptocurrency in all 50 U.S. states. This is huge news for the crypto world as it represents a sort of mainstream acceptance after the blow it was dealt in January when Stripe announced it would no longer support Bitcoin payments. To be clear, there is a distinction between the types of services Stripe offered and those that Cash will offer vis-à-vis Bitcoin. Stripe’s…

  • Commentary,  Innovators

    Sparks fly at Fortune’s ‘Making Money Move’ panel in Aspen

    Stripe and Ripple reps throw shade at IBM for buzzword bingo

    At Fortune’s Brainstorm Tech conference in Aspen last week, the state of women in tech was at the front of everybody’s minds. With 245 tweets or retweets mentioning women over the course of the conference, the topic comprised a full 10 percent of the Twitter conversation about the conference: File under: It can be done. Just under half of all mainstage speakers at #FortuneTech were women. — Dan Primack (@danprimack) July 18, 2018 That dynamic set the stage for the conference’s premiere crypto panel. “Making Money Move” featured two female panelists and female moderator Jen Wieczner—a clear indication of the industry’s dedication to break away from its reputation of being…

  • Bitcoin,  Innovators

    By ending bitcoin support, Stripe shows what a mess bitcoin is right now

    The nature of bitcoin is changing, and this payment giant wants out

    Internet payment processor Stripe is shutting down its bitcoin compatibility after supporting the cryptocurrency for nearly four years. A post on the company’s blog told the story on Tuesday. Founded in September 2011, Stripe won hearts and minds in the tech scene when it introduced bitcoin payments in March 2014. The company was already a leading platform for moving conventional money over the internet, but now it would be among the earliest of its ilk to implement cryptocurrency as the monetary techno-wonder it purported to be. At the time, company leadership just glowed about bitcoin. They loved that it operated reliably around the world and moved money between places where…