Twitter founder Jack Dorsey: Crypto will deliver a global currency

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.

Twitter CEO expects Bitcoin to be world's 'single currency' in 10 years

Twitter CEO expects Bitcoin to be world’s ‘single currency’ in 10 years

With cryptocurencies like Bitcoin a consistent hot topic on everyone’s lips it appears that Twitter CEO Jack Dorsey is confident that it could become the world’s major currency over a ten-year period. Dorsey was speaking to UK’s Times newspaper whilst being in London promoting his latest venture, Square.

In his interview, Dorsey said the internet and the rest of the world “ultimately will have a single currency,” and he “personally believe[s] that it will be Bitcoin.” The Twitter executive went on to say that the transition would happen “probably over ten years, but it could go faster.”

The fact that Dorsey is a fan of cryptocurrency is not so out of this world though. The digital entrepreneur, who heads the phenomenally popular messaging service Twitter, is also the CEO of Square, which is rapidly growing as a company. Recently, Square introduced the option to trade in legacy Bitcoin (BTC) directly and this has led to vastly increased business for the company.

Dorsey was also on record in an earlier interview with the Verge stating that Bitcoin could be unlocking the world of finance in a big way in the not too distant future. However, the Twitter executive needs to get one thing right: Bitcoin Cash is the true remaining Bitcoin as envisioned in the original Satoshi Nakamoto white paper. The BTC chain may have inherited the name “BTC” largely due to history, but it is Bitcoin Cash that much more closely resembles the Bitcoin that sparked the entire digital currency boom.

At present, BTC is trading in the $8,700 mark but analysts are predicting a considerable rise on the horizon. As usual, such things need to be taken with a healthy dose of scepticism considering the recent fall in the price of BTC, which even dropped to $6,500 in February. Bitcoin Cash, on the other hand, is trading in the $1,000 level.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.