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Twitter CEO Accepts Bitcoin and Blockchain are the Future of Twitter

Twitter CEO Jack Dorsey is a Bitcoin supporter for a long time and is continuously raising voice for Bitcoin and blockchain.

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Earlier this month, Dorsey said that Bitcoin is the best native currency as it is the trustable currency of the internet. He has even claimed it has the potential of becoming the sole cryptocurrency by 2030.

Talk at Oslo Freedom Forum

In his talk at the virtual Oslo Freedom Forum, Twitter CEO has gone so far as he believes Bitcoin and blockchain technology to be the future of Twitter.

“Blockchain and bitcoin point to a future, and point to a world, where content exists forever, where it’s permanent, where it doesn’t go away, where it exists forever on every single node that’s connected to it,” he said while talking to Thor Halvorssen, president of Human Rights Foundation.

He said Bitcoin has the function to “provide a trusted system in a distrusted environment, which is the internet.” According to him, his nonprofit Blue Sky is recruiting “a team of up to five architects, engineers, and designers,” to develop a blockchain platform besides Twitter protocol. “The goal is for Twitter to ultimately be a client of this standard,” Dorsey said. He added, “We’ll focus on becoming a client of it so we can build a compelling service and business where anyone can access and anyone can contribute.”

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Dorsey is Seeking Decentralization

After the recent Twitter’s security breach, Dorsey has raised voice for decentralization as he said “you see this most fundamentally in bitcoin and in blockchain. The keys will be more and more in the hands of the individual.” In Twitter’s hack, hackers got control of the Twitter accounts of top personalities such as Elon Musk and Bill Gates.

“Security is not anything that can ever be perfected, it’s a constant race,” Dorsey said at the virtual event. “The more we’re giving the individual the keys, the safer we’re going to be.”

The payment company Square of Dorsey is also asking other cryptocurrency companies to join an alliance known as Cryptocurrency Open Patent Alliance (COPA).

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Hassan Mehmood

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

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