Square Crypto on Hiring Legendary Bitcoin Developer Matt Corallo: ‘LET’S PARTY’

Siamak Masnavi

Square Crypto, the division of payments solutions provider Square that is focused on open source Bitcoin development, announced on Tuesday (August 20) that it had hired legendary Bitcoin developer Matt Corallo.

Square Crypto

The first mention of Square Crypto came on March 20 when Twitter and Square CEO Jack Dorsey sent out the following tweet:

In the tweets that followed, Dorsey explained the motivation for creating this new team:

  • "This will be Square’s first open source initiative independent of our business objectives. These folks will focus entirely on what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests. All resulting work will be open and free."
  • "Square has taken a lot from the open source community to get us here. We haven’t given enough back. This is a small way to give back, and one that’s aligned with our broader interests: a more accessible global financial system for the internet."

Then, on June 12, Square Crypto announced that Steve Lee, a former director at Google, had been hired to be the manager of this division:

On July 29, Lee held an Ask Me Anything (AMA) session via Square Crypto's Twitter account.

During this AMA session, the Square Crypto PM explained the focus of this group and its relation to the rest of Square: 

When asked how Square Crypto planned to support Bitcoin Core developers, Lee replied:

Lee also provided the first hint that Square Crypto would soon be hiring its first Bitcoin developer:

Matt Corallo

So, who is Matt Corallo? 

Corallo is one of the most highly respected and most prolific Bitcoin developers in the world, who has been making important contributions since May 2011. Currently, Corallo has the 6th most commits (640) in the "Open Source Bitcoin Project".

He is also a co-founder of Bloclstream, where he worked Between October 2014 and January 2017. After leaving Blockstream, he moved to Chaincode Labs, the stated mission of which is "to support and develop Bitcoin and other peer-to-peer decentralized systems."

Decrypto's Tim Copeland says that on February 7, at a meeting event in London, Corallo was introduced as “The bastard child of Satoshi," in response to which Corallo replied: "I can’t comment."

Square Crypto's Hiring of Matt Corallo

This is how Square Crypto ecstatically announced the news at 16:30 UTC on August 20:

As for the reasons for choosing Corallo to be their first full-time Bitcoin developer and how they see him helping this division of Square, they said:

This looks like a very smart move by Square, and judging by the comments on Twitter, the Bitcoin community seems to see this move as very bullish for Bitcoin and its ecosystem.

Featured Image Credit: Photo via Pixabay.com