Former CTO of Square joins crypto payment company MobileCoin

Bob Lee has worked with the WHO in battling the Covid pandemic

Square logo                                 
Square logo on a smart phone – Photo: Alamy

A former chief technical officer (CTO) of Square, which was recently rebranded to Block, has joined MobileCoin, a peer-to-peer cryptocurrency which focusses on transactional anonymity and is an encrypted payments system for mobile phones, as chief product officer.

Bob Lee was an early investor and has acted as an adviser to the crypto but is now overseeing the development of MobileCoin’s product portfolio.

Square, the American financial services and digital payments company, tweeted on 1 December that it was rebranding to Block: “We’re changing our company name so we can give the full Square brand to our seller business.”

Lee was the creator of Cash App, a mobile payment service under the Block brand and prior to that was at Google, leading Android’s core library team.

From creating social network to assisting WHO with Covid

Lee founded the social networking site Present, which leverages sophisticated location-based technology. The former CTO of Block also has assisted the World Health Organisation (WHO) in battling the Covid pandemic by helping to create the mobile app to leading development for an at-home testing company.

The unbanked and embracing cryptos

Lee said: "The traditional financial system leaves behind hundreds of millions of 'unbanked' people worldwide and consequently excludes them from the associated benefits. MobileCoin corrects this injustice with its novel blockchain technology – the first solution worthy of the analogy 'digital cash,' as measured by cost, speed, and security.

"Much like encrypted messengers support free speech, MobileCoin supports free commerce. With financial data security more important than ever, developing end-to-end encrypted payment technology isn't just smart – it's our responsibility."

Josh Goldbard, founder and CEO of MobileCoin said: “As the world seeks alternatives to physical cash and embraces cryptocurrency, MobileCoin is focussed on making it easy, fast and cheap for anyone to transact across the world, on a payments platform that is safe for users, data and the environment. We already brought together best-in-class blockchain technology with newly created multi-layer encryption. Now, we are furthering our ongoing product strategy and technology development with Bob. I can't imagine a more qualified innovator to help us build MobileCoin products for consumers and merchants worldwide.”

Lee will be speaking at MobileCoin’s inaugural conference, Crypto Renaissance, an event held on 10 December in San Francisco, California.

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