Twitter Square CEO bitcoin-inspired financial service platform - Financial services firm Square is building a new platform to help bitcoin developers create financial services products, CEO Jack Dorsey has noted.

Dorsey, who is also the CEO of Twitter, said the new business will be called TBD, although he did not clarify whether this will be the definitive name of the fintech.

Square executives already pointed out in June that the company was planning to develop a hardware cryptocurrency wallet and a software service, with the intention of making Bitcoin "more common."

Twitter Square CEO bitcoin-inspired financial service platform

Mike Brock, who leads Square's Strategic Development department, will be in charge of Square's new line of business, Dorsey said.

Square is a San Francisco-based digital payment company that has three other business lines: Tidal, Cash App, and Square Seller. Last year he bought the Spanish payments startup Verse.

Twitter Square CEO bitcoin-inspired financial service platform

The American company was co-founded, in addition to Dorsey, Jim McKelvey and Tristan O'Tierney, who died in 2019 from problems related to his drug addictions.

Twitter Square CEO bitcoin-inspired financial service platform

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Hospitality, leisure and catering companies are studying to claim compensation from the State after the Constitutional ruling

The Spanish hospitality has been put in the hands of lawyers to see how the ruling of the Constitutional Court influences the state of alarm in the activity of the sector and consequently, take legal action.

On Wednesday it was known that the Constitutional Court considers unconstitutional the confinement decreed by the Government of Pedro Sánchez in the first state of alarm, between March and June 2020. The ruling mentions the limitation of the movement of people and vehicles in public spaces and roads.

And this point is the one that will be studied in detail, explained from the Business Confederation of Hospitality of Spain, which represents 300.000 companies. "Our lawyers are consulting the property claim situation to see how it influences," they say.

"But we have to wait for the final judgment." In this sense, they emphasize that it is not an obstacle that they are declared against the law to be able to claim compensation, but for the losses of the businesses.

The judgment points out that the State can not give financial compensation for having suspended the activity of the hotel and catering. ” What seems to have all veracity is the cancellation of the fines " they add.

There is a legal basis seems to demand the return of the fines that were put in the state of alarm to citizens who skipped the confinement, but it is necessary to analyze “what type of fines covers, until when and if it includes that of the establishments”.

Well, every time the hotel and catering could open, came fines for excessive hours after curfew or capacity, recognize. "It is time to wait, but we will be very attentive to the interpretation of this sentence”.

In the same line, the Federation of Businessmen of Nightlife, Spain at Night, explain that” the issue of patrimonial declarations is the most complex", that is why they have been put in the hands of lawyers to assess it.

And is that, although the sentence has been slow to arrive and it seems that there has not been equality of opinion among the magistrates, where if it seems that there is consensus is that the Government should not pay the shops for the losses caused after the closure.

In the Madrid Association of Restoration Companies, they are also prudent. ”We must know the full ruling of the judgment and from there we will have to see in what terms this unconstitutionality is regulated."

From the association insist that right now the scope is unknown and it is only clear that aspects related to the limitation of rights and incidence are contemplated, which had a direct effect on economic activities.

At this point remember that there has already been knowledge of companies that have filed claims for damages.

Commercial airport operators, represented in Aeoca, also want to know what impact it will have on them and have put it in the hands of their lawyers, in case they could take legal action.