During a talk at Consensus 2018, the blockchain week cryptocurrency conference, Jack Dorsey the CEO of Twitter has stated that he does believe one day, the internet will have a native cryptocurrency that is used across the web. He doesn’t know what this currency will be but believes that Bitcoin will be the best option for us.
According to City AM, Dorsey has said:
“The internet is going to have a native currency so let’s not wait for it to happen, let’s help it happen. I don’t know if it will be Bitcoin, but I hope it will be.”
Its interesting to hear something like this from such a prolific figure. As CEO of Twitter, Dorsey is leading one of the worlds biggest social networks. As a medium for creativity, sharing and of course, arguing, Twitter is a perfect platform for a cryptocurrency. With Dorsey an avid believer in the technology, perhaps one day we could see Twitter produce and integrate its very own cryptocurrency.
Moreover, as a seemingly strong believer of Bitcoin, could we see Bitcoin integrated into Twitter first?
Essentially, Dorsey believes that in order for a cryptocurrency to be adopted across the internet, it needs to be simple. In Dorsey’s eyes, Bitcoin already has the capacity for that. It is universally known and somewhat, universally understood. Therefore, Dorsey believes that if one cryptocurrency is to take the internets reigns, it’ll be Bitcoin.
Bitcoin in general does look to be working towards gaining a full internet monopoly. Although because the internet is so vast, its pretty hard to see exactly how Bitcoin integration would take off. Where would it start? Which website would start taking mass Bitcoin payments first?
It’s a really complicated idea, ultimately, that’s why its not been done yet. Dorsey feels that this whole system needs simplifying. Bitcoin seems to harvest the ability to do just that.