Blockchain mining: Dorsey says it plans to build system

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Blockchain mining: Dorsey says it plans to build system

Technology CEOS Zuckerberg of Facebook, Dorsey of Twitter and Pichai of Google testify before the House Committee in Washington.

Jack Dorsey, a Reuters- Block Inc Chief Executive Officer, said in a tweet on Thursday that the company is looking to expand beyond its payment business and into new technologies likeBlockchain.

In October, Dorsey said Block, formerly Square, was considering building a mining system based on custom silicon and open source for individuals and businesses worldwide.

In a tweet post on Thursday, Block's general manager for hardware, Thomas Templeton, laid out the company's plans for building the mining system.

We want to make mining more efficient and more distributed in every way, from buying, to set up, to maintenance, to mining. Templeton said that it was a long-term need for a future that is fully decentralized and permissionless.