Block, a global technology company with a focus on financial services, today joined OpenChain’s Governing Board. Block, made up of Square, Cash App, Spiral, TIDAL, and TBD, builds tools that help make the economy more accessible for everyone. The OpenChain Project has been building trust in the supply chain since 2016. It maintains OpenChain ISO/IEC 5230, the International Standard for open source license compliance. This is a simple, effective standard suitable for companies of all sizes in all markets. It is developed openly by a vibrant user community and freely available to all.
“Welcoming Block to the OpenChain Governing board is a landmark moment for our project,” says Shane Coughlan, General Manager at OpenChain. “The financial sector is one of the areas where regulation is most important, and where getting things done correctly is of vital significance. Managing the supply chain is an issue here as it is everywhere, and OpenChain standard for open source compliance helps to mitigate this challenge. We are proud to be part of the solution for Block and we look forward to working with many other financial companies in the future.”
“Managing supply chains is not something that a company does alone. It is a combined industry effort to reduce errors and to increase efficiency,” says Max Sills, Counsel at Block. “At Block, we recognize that OpenChain is a critical part of this in the open source ecosystem, and we see immense value in being part of the strategic management around the ISO standard and the global community. We look forward to helping the open source supply chain become more efficient and more effective together.”
Block (NYSE: SQ) is a global technology company with a focus on financial services. Made up of Square, Cash App, Spiral, TIDAL, and TBD], we build tools to help more people access the economy. Square helps sellers run and grow their businesses with its integrated ecosystem of commerce solutions, business software, and banking services. With Cash App, anyone can easily send, spend, or invest their money in stocks or Bitcoin. Spiral (formerly Square Crypto) builds and funds free, open-source Bitcoin projects. Artists use TIDAL to help them succeed as entrepreneurs and connect more deeply with fans. TBD is building an open developer platform to make it easier to access Bitcoin and other blockchain technologies without having to go through an institution.
About the OpenChain Project
The OpenChain Project maintains the International Standard for open source license compliance. This allows companies of all sizes and in all sectors to adopt the key requirements of a quality open source compliance program. This is an open standard and all parties are welcome to engage with our community, to share their knowledge, and to contribute to the future of our standard.
About The Linux Foundation
The Linux Foundation is the organization of choice for the world’s top developers and companies to build ecosystems that accelerate open technology development and industry adoption. Together with the worldwide open source community, it is solving the hardest technology problems by creating the largest shared technology investment in history. Founded in 2000, The Linux Foundation today provides tools, training and events to scale any open source project, which together deliver an economic impact not achievable by any one company. More information can be found at www.linuxfoundation.org.
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