Twitter CEO Jack Dorsey believes bitcoin could be the native currency of the Internet.

The founder and CEO of the microblogging platform Twitter, Jack Dorsey, named bitcoin as the strongest contender to become the "native currency of the internet.

In a chat with Reuters, Twitter, and Square CEO Jack Dorsey, further showed his commitment and trust in the leading cryptocurrency Bitcoin (BTC), naming it as the strongest contender to become the “native currency of the internet.” Over the past decade, Bitcoin’s growth is offering a sense of value for investors – a factor that Twitter CEO believes will help BTC manifest further. The adoption of crypto has increased quite significantly this year amid the ongoing pandemic. 

 

Bitcoin could be the native currency of the internet. 

“I think the internet wants a native currency, and I think Bitcoin is probably the best manifestation of that thus far. I don’t see that changing given all the people that want the same thing and want to build it to that potential,” Jack Dorsey said. Twitter and Square CEO further compared Bitcoin’s rapid rise and influence on the internet as a “decentralized and cooperative” system that offers everyone a chance to build on it. The internet is consensus-driven and is built by everyone, and everyone can change the course of it. Bitcoin has the same patterns. It was built on the internet, and anyone can be active [develop] on it,” he added.

 

“Bitcoin’s transaction times and the blockchain’s efficiency could be better.”

Jack Dorsey said the current challenges on the Bitcoin network as the most significant barrier to global adoption. First, Bitcoin’s transaction times and the blockchain’s efficiency could be better, he stated. The second problem that the leading cryptocurrency developers should solve is “making the crypto intuitive to people.” Throughout Bitcoin’s lifespan, the access and use of Bitcoin have been hindered by complex platforms for users to buy and spend crypto, a factor Jack’s Square Crypto and Cash App are trying to solve.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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