Jack Dorsey Believes Bitcoin Is The Currency Of The Internet

As previously reported in our crypto news, Jack Dorsey- the CEO of Twitter, was a guest at Joe Rogan’s podcast where they discussed blockchain and crypto. Dorsey made some comments about bitcoin that are worth checking out.

Dorsey declared that he strongly believes that Bitcoin will the native currency of the Internet when he said:

 “Bitcoin was something that was born on the internet, that was developed on the internet, that was tested on the internet…It is of the internet.”

Dorsey is the founder of the mobile payments company Square that allows its users to trade in Bitcoin and he claimed that the company has no intention to add other cryptos on the app. Square has been named Yahoo Finance’s company of 2018 and has previously reported that it generated about $43 million in Bitcoin for the third quarter of 2018.

During the interview, Dorsey pointed out that some banks love blockchain because of the huge efficiency it can generate for their business but it is a scary technology for some of the services behind the banks and it can also be threatening to governments as well.

He believes that the internet is currently transitioning to a system in which all of the data created can be stored permanently online and this is what blockchain helps enable. He also described the future of the internet:

 “We’re moving to a world in which anything created exists forever, that there’s no centralized control over who sees what, that these models become completely decentralized and all these barriers that we, that exist today, aren’t as important anymore.”

However, some of the comments below the YouTube video appointed to Jack were focused on the right to use social media without Twitter banning people such as Alex Jones and the video has since 38 thousand dislikes.