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Bitcoin Accepted [Everyw]here: Square Patents Crypto Payment Network

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The payment service will accomplish this by maintaining a private blockchain that records transactions from Square-managed wallets in real-time

From Bitcoin Accepted [Everyw]here: Square Patents Crypto Payment Network.

So, basically, if you send cryptocurrency from a Square cryptocurrency wallet to another Square cryptocurrency wallet, Square will credit the recipient in near-real time and take the risk that you don’t then go and send the same cryptocurrency to someone else.

(Note: To operate such a system, you don’t need wallets or blockchains. You could just use a database and call it Square-PESA.)

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