Twitter CEO, Jack Dorsey terms Bitcoin as internet’s ‘Single Currency’

By | March 21, 2018

Oh, how the status-quo has shifted momentum in just a couple of days back it was rumoured that Twitter would be banning Crypto promotions on its platform, and now it can only be termed as an extraordinary turn of events. CEO of Twitter Jack Dorsey has publicly revealed his utmost support to the number one cryptocurrency “Bitcoin”, He reportedly quoted that “Bitcoin would be the world’s “single currency.”

During Dorsey’s stay in London for promotions of his pro-crypto payment platform square, In an exclusive chat with Times, he stated that the global “shift” towards cryptocurrency is all but certain and could possibly be witnessed by 2028 that is ten years from now.

As per the CEO of Twitter “ Ultimately the entire world would have a single currency, the internet would also have a single currency as well”. He further added, “I personally believe that currency would be Bitcoin”.

As per reports revealed by Sky News earlier in the week on March 18, it was announced via anonymous sources that Twitter’s new advertising policy “at present has been made with a view  to imposing a ban on all advertisements done for token sales, initial coin offerings (ICOs), and cryptocurrency wallets globally”. It was also revealed that unlike Google whose ban would come into effect by June, Twitter’s ban could be enacted by the next month itself.

DORSEY’S ambitious BITCOIN JOURNEY still on track

Dorsey himself also admits that in its present state, Bitcoin does not satisfy his pre-requisites for transactions, describing them as “slow and costly” despite late tremendous reductions in the two fees and holding up time

Just last week, Dorsey openly presented himself as one of the investors in a $2.5 million seed subsidizing round for Lightning Labs, a startup which released the first Lightning Network main-net beta item, ‘Lightning Daemon’.

When questioned about Bitcoin’s current system limitations he said”… As an ever-increasing number of individuals have it, those things eventually go away,”

There are more current technologies that have adopted the blockchain technology which in turn has made the [Bitcoin] more feasible and likable.

In the meantime Dorsey’s Square has increased its association with Bitcoin, taking off payment functionality to every one of its users which is exactly contrary to Twitter

Record holders of only three US states – New York, Georgia, and Hawaii – are banned for regulatory reasons, with New York residents soon to be involved all thanks to Square’s BitLicense endorsement.

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