Jack Dorsey announced the ongoing launch of a Bitcoin-based decentralized exchange

Jack Dorsey, the co-founder of Twitter, commented on the TBD platform progress (the project was launched for a Bitcoin-based DEX creation). This platform is based on Dorsey’s payment company Square.

“We’ve determined TDB54566975’s direction: help us build an open platform to create a decentralized exchange for Bitcoin” – highlighted Jack Dorsey on Twitter.

Mike Brock, the head of Square’s cryptocurrency, was chosen to lead the new project. According to Mike, Bitcoin is on the way to become the native online currency. Brock highlights that the Square team aims to create a secure monetary system worldwide.

The TBD platform head focuses on problems that appear when holders buy Bitcoin through centralized services like Cash App or Coinbase. The upcoming decentralized exchange is ready to solve them effectively.

Jack Dorsey is among the most prominent Bitcoin-supporters, as the billionaire once stated that Bitcoin is the most important thing he is going to work on. Furthermore, Dorsey stated that he was ready to leave Twitter or Square if Bitcoin would need more help.

As of June 2021, the Twitter cofounder outlined that both companies (Twitter and Square) should play a crucial role from the viewpoint of making Bitcoin more widespread globally.

At the same time, such an initiative is not welcomed by all the community members. Stani Kuleshov, the Aave CEO, thinks that Jack is playing outside his own field, and announces the wish to launch a crypto-based social network to overrun Twitter.