These guys have a lot of money, so presumably they've hired people who know what they are doing: I'd be very curious to hear them explain why they think they need a blockchain to do payments. I don't expect their answer will have anything to do with censorship resistance.
The fintech giant Stripe is developing a new blockchain, according to a recent job posting on a site for the crypto lobby group Blockchain Association. “Tempo is a high-performance, payments-focused blockchain,” reads the job advertisement, which is for a product marketing position and dated August 3.The posting goes on to say that Tempo is in stealth, has a team of five, and is being built in partnership with Paradigm—a crypto venture capital firm whose cofounder and managing partner, Matt Huang, is on the board of Stripe. Applicants for the marketing position should have “experience marketing to a Fortune 500 audience,” per the ad.The blockchain is a layer 1, or not built on top of other protocols, and it’s compatible with the coding language used on the blockchain Ethereum, according to four sources briefed on the matter. All sources requested anonymity to talk about private business conversations.Spokespeople for Stripe and Paradigm declined to comment. The job posting was taken down after Fortune reached out to both companies.Tempo is the latest bet on crypto from Stripe, which has grown to an almost $92 billion valuation on the back of payment products like easy online checkout and automated invoicing for businesses.