Co-founder of Twitter platform believes that BTC can become the base currency of Internet.
Twitter head Jack Dorsey announced that the most capitalized cryptocurrency – Bitcoin – will become an important part of the future of his social network. According to TechCrunch he said that during a phone conversation with investors.
"I think it is hugely important to Twitter and Twitter shareholders that we continue to look at this space and invest aggressively into it. There is an obvious need for this, an appreciation for it. An open standard, which is native to the internet, is where it should go."
— Alex Weprin (@alexweprin) July 22, 2021
The developer drew attention to the fact that he sees opportunities for integrating cryptocurrency into existing products and services of Twitter, including subscription tools, commercial offers, and functionality for transferring Tip Jar tips. He believes that the use of BTC will help accelerate the development of the social network.
According to Jack Dorsey, Internet needs its own currency. The developer is confident that bitcoin can become the basic settlement tool on the network. Cryptocurrency, he believes, “ensures that people and companies will freely trade goods and services anywhere in the world.”
He thinks that Bitcoin is a big part of our future. There is a lot of innovation beyond the currency, especially when it comes to more decentralizing social media and generating economic incentive.
In total, Jack Dorsey identified three main trends in the development of Twitter in the future: Bitcoin, artificial intelligence, and decentralization. The developer talked about the last two points earlier. At the same time, the founder of the social network announced his intention to integrate cryptocurrencies into Twitter products for the first time.
The developer drew attention to the fact that other market participants are also considering development schemes related to digital assets. As an example, he cited the crypto project of the social network Facebook – Diem.
Jack Dorsey is a famous crypto enthusiast. He has spoken out on numerous occasions to support the digital asset market. Jack Dorsey also actively invests in cryptocurrency. At the disposal of the company he controls, Square Inc. there are over 8 thousand bitcoins for a total amount of about $ 288 million.
We will remind, recently Jack Dorsey announced that Square will create a hardware wallet for cryptocurrencies. The company also plans to launch a Bitcoin-focused platform for developers.
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