The Register is out this morning with an interesting read on the new offering from Twitter co-founder Jack Dorsey. Dorsey, it turns out, is behind a new mag-stripe reader for the iPhone.
Coming only days after the other Twitter co-founder Biz Stone said 2010 will finally be the year that Twitter proves profitable, hopefully Dorsey isn't moonlighting as a hardware developer to make ends meet until Twitter actually turns a profit
Dorsey's "Square" service comprises a magnetic strip reader balanced precariously on the bottom of an iPod Touch, or iPhone, along with an application which processes the transaction and e-mails a receipt. It's no wonder that VC's have already handed over $10m in cash and can't wait to give him more.
Those who choose to register with the service can also upload a photograph which is displayed on the iPhone's screen, but photographs on cards have been tried before with limited success. A particularly famous UK trial culminated with one trialist replacing their photograph with that of a gorilla, without raising an eyebrow when it was used.
Those questions and more remain to be answered. But it's a good sign that one of the creative minds behind Twitter is looking to the iPhone as a creative outlet for new software or hardware ideas that could ultimately trickle down to consumers in a widespread fashion.
Then again, so is everyone else.
Image via The Register