Jack Dorsey, the Chief Executive Officer (CEO) of Twitter and Square confirmed that a Twitter cryptocurrency is not under consideration, given the fact that Dorsey likes the idea of Bitcoin usage.
Jack happens to be certain about Bitcoin becoming the conventional currency for the internet, as revealed on September 5, by an Australian news outlet.
Referring to the controlled and restricted standards of conventional banking, he expressed that unrestricted internet standards as opposed to conventional controlled banking standards.
Twitter cryptocurrency in the economy of the World
The Twitter CEO appeared for the launch of Square Terminal, which is a cordless portable machine for credit and EFTPOS. It also allows you to receive payments very conveniently.
Expressing detestation regarding the idea of controlled banking practices, he explained how this phenomenon happens to be very severe in Australia.
He further highlighted how this added to the country’s economic instability by depressing it into recession over its course of being.
He also stated that people with a formed opinion regarding this are fooling themselves. And conclusively there’s no one on that planet that adequately understands the economy of the world.
Internet’s Native Currency?
CashApp, an app which enables users to transfer money using mobile payments, was developed by Square in 2013. In June, the app released Bitcoin (BTC) deposits. Square had generated a Bitcoin revenue of one hundred and twenty-five million dollars ($125) by Q2 2019.
Jack commended the resilience of the Bitcoin and stated how it’s the best bet out of the numeral crypto-currencies out there.
Moreover, he emphasized on BTC’s stability by stating that it has been here for a decade, and has been tested thoroughly.
Conclusively implying how it is the sole crypto-currency that can adequately serve the purpose of being a native currency for the internet out of all the other ones that he has looked into.