The world of cryptocurrency is evolving at a rapid pace, but Twitter CEO Jack Dorsey is still committed to its first place – Bitcoin (BTC).

In an interview with Reuters on September 10, Dorsey, who also founded the mobile payment platform Square, said that he believes the currency potential still outweighs the following development:

“I think the Internet guarantees […] the availability of a national currency, and […] bitcoin is probably the best aspect of it. I do not see this change in the light of all the people who want the same thing and build it for this potential. ”

Dorsey linked the basic principles of Bitcoin to the spirit of collaboration and decentralization, which he sees as the driving force of the Internet:

“The Internet is a consensus-based thing, created by everyone, and everyone can change course. Bitcoin has the same patterns as it is built on the Internet. ”

Dorsey praised the fact that “anyone with a good idea” who wanted to be part of Bitcoin could join the community – “they do not have to be part of the company,” he said.

Dorsey seemed to strive for both Bitcoin and the Internet in an exemplary manner – without speculation of oligopoly, government violations and corporate censorship and the difficult inequalities in power and capital that supporters of decentralization must necessarily face.

In line with the belief that popularity may take control of the future direction of cryptocurrency and the Internet, Dorsey told reporters that it is important to focus on improving Bitcoin’s user experience to facilitate proliferation.

He said cryptocurrencies need to evolve to become “intuitive” to use and match existing digital payment infrastructure. He added that cost and time efficiency, especially when it comes to transaction processing, is another major obstacle to overcome.

However, Dorsey’s commitment to the idealistic spirit and cryptocurrencies of the Internet does not mean that he is blind to the gap between idealism and reality.

Last year, Twitter funded a dedicated team of open source architects, engineers and designers tasked with developing a decentralized standard for social media. Dorsey said the goal was for Twitter to eventually become a buyer of the fruits of their efforts.

Speaking of the challenges Twitter faces as a key platform, Dorsey identified blockchain, the technology at the heart of Bitcoin, as an important technological development that points to a real potential for a viable, decentralized future.

He wrote: “There is still a lot of work to be done, but the foundation is there.”

Source: CoinTelegraph

LEAVE A REPLY