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Jack Dorsey: Bitcoin and Blockchain are the Future of Twitter

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Jack Dorsey: Bitcoin and Blockchain are the Future of Twitter

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Jack Dorsey, CEO of Twitter, has not relaxed on his praises about Bitcoin (BTC) and blockchain. He described bitcoin and blockchain as the future of Twitter.

Dorsey, who appeared at the Oslo Freedom Forum 2020, said:

“Blockchain and bitcoin point to a future, and point to a world, where content exists forever, where it’s permanent, where it does not go away, where it exists forever on every single node that’s connected to it”

According to the CEO of Twitter, Bitcoin is built on the basic spirit of the internet. That is the creation of a trustless and distributed ecosystem. If the invention of the internet could eliminate the friction between information, then Bitcoin can be said to eliminate the friction between economy and currency.

In addition, he added that the ultimate goal is to move Twitter to public blockchain architecture. This is to make the platform a fully open protocol. When asked to comment on such plans, Jack Dorsey added:

“We’ll focus on becoming a client of it [the planned blockchain] so we can build a compelling service and business where anyone can access and anyone can contribute.”

The move to open Twitter is in line with Dorsey’s recent activity to ensure easier access to technology. Recently, Dorsey’s financial services company Square had recently founded a nonprofit organization to fight crypto patent trolls.

Dorsey acknowledges that Twitter may migrate to a blockchain-based framework as the company tries to change its security protocols. Back in July, hackers took control of several high-profile Twitter accounts in order to devise a crypto fraud.

Jack Dorsey Yet to Invest Twitter Funds in Bitcoin

The CEO of Twitter praising Bitcoin is nothing new. Jack Dorsey is positive about bitcoin and blockchain technology. However, it remains to be seen whether the Twitter CEO will invest the company’s funds directly in Bitcoin.

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