Internet currency

Twitter & Square CEO Jack Dorsey: Bitcoin could become common Internet currency

Jack Dorsey, founder and CEO of social media platform Twitter and payment service provider Square, wants to establish Bitcoin as a global Internet currency. In the future, the Internet will need a common payment option and Bitcoin could do this. Dorsey is certain that his company Square could help Bitcoin achieve this breakthrough. Dorsey confirmed this position yesterday at the Consensus Crypto Conference in New York.

Dorsey has repeatedly presented himself as the Bitcoin news strong advocate

Making the Bitcoin news suitable for the masses – this is the goal of Twitter and Square CEO Jack Dorsey according to onlinebetrug. After predicting in March that the Bitcoin would need another 10 years for its mass breakthrough, he confirmed his optimistic attitude yesterday as a speaker at the consensus conference in New York. Once again, he presented himself as a decisive advocate of the leading crypto currency.

“The Internet deserves a domestic currency. It will get a domestic currency. So let’s not wait for it, let’s work on it today. Whether that will be the Bitcoin, I don’t know. But I hope so”,

so the appeal of the 41-year-old Internet pioneer. He is a “huge fan” of Bitcoin.

“This technology is a fundamental change in our world and can bring a lot of positive things. We need to work to educate regulators and the SEC about why this technology is so important, says Dorsey.

He is sure that his company Square could help with this Bitcoin formula project

“We want to go back to the original idea of using the Bitcoin formula to pay for his coffee. That’s why we’re working with Lightning Labs. Whatever it takes to get there, we will make sure it happens”, Dorsey was enthusiastic. At the moment, however, Square would have to act as an intermediary between digital and fiat currencies to deal with different conditions worldwide, for example in dealing with banks or legislators.

Dorsey’s company only started trading Bitcoin in November of last year, but began to have Bitcoin accepted by 2014.

Since last year, the payment service provider has been offering its customers purchase and sale options as well as transfers with the crypto currency on the App Square Cash.

According to CNBC, the initiative is beginning to bear fruit. Square Cash is currently the market leader in crypto payments and ahead of Paypal’s Venmo service.

Consensus Fair 2018: Price jumps fail to materialize
In addition to Dorsey, a total of 250 speakers with their ideas, suggestions and presentations on the future of crypto currencies and blockchain technology were invited to this week’s Consensus Conference. Since 2016, the annual event has brought together the biggest names on the scene with representatives from politics and industry. This year, more than 8,500 participants crowded into the Hilton Hotel in Midtown Manhattan – among them representatives of the US Securities and Exchange Commission (SEC), the CFTC and the EU Parliament.

While the conference, with three times as many visitors as last year, was a success for the organisers, not all of them shared Dorsey’s optimism. Criticism of the crypto-boom hail mainly from bankers. They held a counter-demonstration on Monday.

The price jumps expected by analysts last week, which had accompanied the conference in previous years, also failed to materialise this year.

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