Square Releases White Paper Detailing Protocol for a Decentralized Bitcoin Exchange

Posted on by American Coins & Gold

Square Releases White Paper Detailing Protocol for a Decentralized Bitcoin Exchange
Payments giant Square released a white paper on Friday detailing a new decentralized protocol for exchanging digital and other assets known as tbDEX.“The tbDEX protocol facilitates decentralized networks of exchange between assets by providing a framework for establishing social trust, utilizing decentralized identity (DID) and verifiable credentials (VCs) to establish the provenance of identity in the real world,” the company wrote in the paper’s abstract.In a post introducing the protocol, a TBD developer wrote that “the tbDEX protocol aims to create ubiquitous and accessible on-ramps and off-ramps that allow the average individual to benefit from crypto innovation.”Square CEO Jack Dorsey,…