Business 4 February 2019Derek Tonin
Twitter founder Jack Dorsey: Crypto will deliver a global currency
Jack Dorsey has a lot of thoughts and plans for cryptocurrency. In a February 2 interview with Joe Rogan, the Twitter founder and CEO had a lot to say about the topic.
In a wide-ranging interview that covers topics of censorship, app development, politics and other topics, Rogan steered the conversation towards Dorsey’s Cash App, which allows users to buy and sell Bitcoin Core (BTC). Rogan asked why Dorsey’s team introduced cryptocurrency exchanges in the app.
Quite simply, Dorsey believes in a future of one global currency, if it is or isn’t BTC, and that starts in small steps. He said:
“I believe the Internet will have a native currency and I don’t know if it’s Bitcoin. I think it will be [Bitcoin] given all the tests it has been through and the principles behind it, how it was created. It was something that was born on the Internet, was developed on the Internet, was tested on the Internet, [and] it is of the Internet.”
Showing that he understands the true purpose of Bitcoin, Dorsey is focused on Bitcoin as a digital currency, not as a day-trading industry or investment opportunity. He notes that the Cash App does not allow credit card purchases of BTC to discourage users from putting themselves into debt for a sudden risky investment, and it also has controls to guard against frequent trading.
These views are contrary to what a lot of BTC supporters have argued in the past, in the face of high transaction fees and network congestion. Dorsey really seems to believe in the original Satoshi vision of Bitcoin as a digital currency, and not as a digital gold, to invest in as a hedge against the market.
To that end, Dorsey should take a look at Bitcoin SV (BSV). As the only Bitcoin to follow the original whitepaper, BSV is built to be that digital currency of the internet, and the world. It provides the stability that a serious enterprise, like Twitter and the Cash App, can put their faith in. It’s also built to massively scale on chain, and has already proven capable of sustaining 64MB blocks for 24 hours, and as much as 103MB blocks, with much bigger to come.
Dorsey admits that he’s not sure if BTC will be the currency of the future, but he expects something will take that role. He told Rogan, “We would love to see something become a global currency. It enables more access. It allows us to serve more people. It allows us to move much faster around the world.” It sounds like he might be talking about BSV.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.
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