The founder of twitter and square, Jack Dorsey says there is no better time to start a new idea for business than during the time of a company’s depression or recession only because he feels that’s the time the creative aspect of a person works quicker than ever. Just when he knew the market was crashing and saw all his financial strength being swept away he knew it was time. The idea of square rose when jack heard how his friend, also his first boss lost a sale of $2000 because he dint have a credit card reader. In order to overcome this hurdle he worked on it for a month and made a prototype called “SQUARE”-a credit card reader. That’s how the idea of square rose, rose to be number one among its competitors.
The basic foundation that square was built on was simplicity and easy access to funds. Square’s progress yet again proves how the world thrives for digitalization. If every aspect of the transaction is digitalized it will bring in an Omnichannel or a uniform mode of payment only making it easy for mankind. Digitalization for the win!