The white paper from Square’s new TBD division describes a protocol for exchanging digital and other assets in a way that’s more accessible to everyone.
Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
tbDEX: Square Releases White Paper Detailing Protocol for a Decentralized Bitcoin Exchange
Coindesk | Tanzeel Akhtar, Nelson Wang | | Nov 20, 2021
The white paper from Square’s new TBD division describes a protocol for exchanging digital and other assets in a way that’s more accessible to everyone.
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.”
- TBD has published the white paper in GitHub so that the community can contribute.
See:
5 guiding principles for decentralized identities
Microsoft's decentralized identity head leaves to join Square
Square CEO Jack Dorsey, who’s also the CEO of Twitter, announced the company’s plan to create an open developer platform for a decentralized bitcoin exchange back in August. He noted that TBD, Square’s new division focused on developing non-custodial and decentralized financial services, would be building the exchange.
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