Why Twitter CEO Thinks Bitcoin Is Best Internet Money

Twitter CEO explains that Bitcoin is “the best internet money” Twitter CEO Jack Dorsey clarified why he thinks Bitcoin is the best internet money.

Why twitter CEO thinks Bitcoin is best internet money

Jack Dorsey, billionaire boss of microblogging platform Twitter and payment company Square, said Bitcoin is probably the best local currency on the internet because it is consensus and was created by all.

Dorse, who recently gave an interview to Reuters, said, “The internet is a consensus-based and created thing and anyone can change its course. Anyone with a great idea can contribute to the internet. ” used the expressions.

Dorsey’s company, Square, has recently launched a formation called the Crypto Currency Open Patent Association (COPA), which will gather patents and maintain the open source spirit of the industry. Dorsey also called on other cryptocurrency companies to join this union.

COPA, which is completely separate from Square and has its own independent board of directors, said in a press release, “We believe that there should be a global local currency specific to the Internet.

Just as everyone should be able to participate in the economy and have access to the same tools and services, everyone should be able to participate in cryptocurrencies and access the underlying innovation.

It was said. The same statement also stated that the offensive and misguided use of patents threatens the growth and adoption of emerging technologies such as cryptocurrencies.

Taking the first step in this regard, Square has given all patents related to crypto money to the non-profit COPA.

Twitter CEO has been following and researching Bitcoin for many years. Dorsey, known to periodically buy Bitcoin, also said in this week’s Reuters interview, “I think the internet wants a local currency, and I think Bitcoin is probably the best manifestation of this so far.”

He spoke in the form. Dorsey points out to transaction times and efficiency, saying that Bitcoin has issues that need improvement before general adoption.

Originally published at Somag news

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