Co-founder and CEO of Twitter, has once again declared support for Bitcoin. In fact, Jack Dorsey is confident that Bitcoin will be the internet’s main currency. He made this assertion during an interview with American comedian and podcast host Joe Rogan on February 2.
Dorsey still believes in Bitcoin’s potential
Jack Dorsey has been a long time Bitcoin bull and has made his position known yet again. During the interview, Dorsey stated that Bitcoin was something conceived on the internet, developed there, and was also tested on the internet. This makes it of the internet, he added.
Dorsey had previously made this claim last year. In May 2018, the Twitter CEO noted that he sees Bitcoin becoming the currency of choice for the internet. He is actively involved in the crypto sector via his mobile payments company Square, which enables users to trade in Bitcoin.
Rogan asked Dorsey if they have plans to support other cryptocurrencies on the Square app. His response was “None at the moment”. In December last year, Square was named as Yahoo Finance’s company of the year. The company later reported that it raked in 43 million USD in Bitcoin revenue during the third quarter of 2018.
Rogan also asked Dorsey if he sees any pushback regarding Bitcoin. Dorsey pointed out that the treatment of banks towards Bitcoin shows there are pushbacks, adding that “just look at some of the major banks and their considerations on Bitcoin.”
Dorsey added that the banks “ all love blockchain, because of the efficiencies it can create for their business and potentially new business lines. The technology is certainly threatening to certain services behind banks and financial institutions, it’s threatening to some governments as well…”
Data created online will become permanent
Jack Dorsey predicted that the internet is evolving. And, that it’s moving to a system where any data created will be online permanently. He believes that blockchain will help with that, stating that “this is what blockchain helps enable, down the line, and we need to make sure that we’re paying attention to that.”
Also, Jack discussed his vision for the internet of the future. He said, “We’re moving to a world in which anything created exists forever, that there’s no centralized control over who sees what.” And also added, “These models become completely decentralized and all these barriers that we that exist today aren’t as important anymore.”
Dorsey’s believe in the power of blockchain technology led to him suggesting to the US House Committee on Energy and Commerce last year that the technology could be used to fight misinformation and scam.