Twitter founder Jack Dorsey has said Bitcoin represents a better model for the internet, in a series of tweets offering justification for the platform’s recent ban of U.S. President Donald Trump.
The reason I have so much passion for #Bitcoin is largely because of the model it demonstrates: a foundational internet technology that is not controlled or influenced by any single individual or entity. This is what the internet wants to be, and over time, more of it will be.
— jack (@jack) January 14, 2021
Despite claiming the ban was “the right decision for Twitter,” Jack Dorsey has acknowledged the actions set a dangerous precedent for political censorship.
“Having to ban an account has real and significant ramifications. While there are clear and obvious exceptions, I feel a ban is a failure of ours ultimately to promote healthy conversation. And a time for us to reflect on our operations and the environment around us.”
“Having to take these actions fragment the public conversation. They divide us. They limit the potential for clarification, redemption, and learning. And sets a precedent I feel is dangerous: the power an individual or corporation has over a part of the global public conversation.”
The comments come after Twitter banned the serving U.S. president on January 7 for political reasons, which Dorsey acknowledges has been a dangerous, unilateral action from a centralized authority.
Describing the decision as a “a company making a business decision to moderate itself,” Dorsey noted that it felt like a “government removing access.”
Instead, he suggested Bitcoin represents a better model of “what the internet wants to be, and over time, more of it will be.”
“The reason I have so much passion for Bitcoin is largely because of the model it demonstrates: a foundational internet technology that is not controlled or influenced by any single individual or entity.”
Noting Twitter’s commitment to developing new decentralized technology, Dorsey said the company was “funding an initiative around an open decentralized standard for social media.”
“Twitter is funding a small independent team of up to five open source architects, engineers, and designers to develop an open and decentralized standard for social media. The goal is for Twitter to ultimately be a client of this standard.”
The recent events has ignited the talks about “re-inventing the Internet.” Tim Berners-Lee, the man credited with inventing the World Wide Web, is also looking to create a better version of the internet—but there really isn’t a need to re-invent the wheel, so to speak, when Bitcoin SV (BSV) already has the infrastructure in place and is already doing all the things Berners-Lee and Dorsey want to do.
User empowerment, creating a transparent system, even reducing costs and transaction settlement time—these are just some of the ways that Bitcoin puts the power back in the hands of its users, giving them full ownership and transparency of the value they create.
See also: CoinGeek Live panel, Re-Invent the Internet: New Models for Digital Media & User Content
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.