Square has won a patent for a cryptocurrency payment system that may bring crypto some widespread use. Although Bitpay has been doing this since 2011, Square has a lot more market penetration and could see much more use. Square also runs a private blockchain to process transactions and says they can make Bitcoin payments as fast as regular credit card payments, which is one of the main problems with paying for goods in Bitcoin. Square, of course. has no obligation to implement these things into its POS system, but unlike Bank of America, who are largely filing these patents for PR, square actually has a large cryptocurrency branch that may be the future of their business so I think they will quickly implement some of this new technology. This could be a big step into widespread adoption.
