Jack Dorsey, the CEO of Square and Twitter, has made
Jack Dorsey, the CEO of Square and Twitter, has made some statements about cryptocurrency and blockchain that have created a buzz in the industry. He has always been an ardent believer in the potential of cryptocurrency, and his following remarks firmly corroborate his stance on them.
Dorsey said:
“I thought it [the BTC whitepaper] was beautiful, I think it’s one of the most seminal works of the last 20 years”
Dorsey has integrated BTC into Squares incipient Cash App, which goes to show that he is willing to experiment with Bitcoin and cryptocurrency. Prior to that, in 2014, he decided to use BTC in an online store, by allowing buyers to pay with the leading cryptocurrency.
He has previously stated his beliefs regarding a native currency for the internet. He believes that the internet will soon have its native currency. He said:
“what does the internet ultimately want? It will want to have a native currency… a currency that is effectively global”
Dorsey believes that blockchain trends have been getting a lot of attention and that many are interested in the technology and what it can achieve. He thinks this interest is fueling innovations centred around blockchain.
Bitcoin has been known to disrupt traditional forms of money and conventional financial institutions, which is why it is only natural, that the government will try to control the cryptocurrency. However, Dorsey is of the opinion that due to Bitcoin’s fundamental association with the internet, it is independent of the state, and government control. He added that he wants “nation states to figure out how to make that work for their constituencies. ”
He also said:
“I think there’s a massive acceleration that is going to happen in the next 10 years because the generation is growing up only knowing that these technologies exist… and having this incredibly accessible environment to program in, that’s what excites me.”