“Hell No,” Says Jack Dorsey When Asked on Joining Facebook’s Libra

Table of Contents

• ‘Hell No’

The CEO of Twitter and Square Jack Dorsey has just made it very clear on how he feels about the upcoming Libra stablecoin. 

According to a tweet posted yesterday by the reporter, Alex Weprin Dorsey had some harsh words to say on the project.

‘Hell No’

In regards to Zuckerberg’s speech last week, Dorsey allegedly said, “A lot of it seemed to be based in American tradition. I fear that if we base too much in this one concept, we take away the ability to experiment and expand. We are not just serving an American audience, we are serving a global audience... The internet is somewhat of an emerging nation-state."

However, when asked about the Libra project and whether Twitter would be joining it, Dorsey simply said "Hell no. Nothing within Libra had to be a cryptocurrency to do what they wanted to do."

Now there are two ways to look at this.

For starters, Facebook and Twitter are huge competitors as both of their platforms connect people together but in several different ways. For example, if I wanted to have a group chat with my friends I wouldn’t go to Twitter because Facebook offers a much easier service but if I wanted to rant about how I thought the new Joker movie was, then Twitter is the place for me. 

It comes down to personal preference at the end of the day but even so, the two are fighting for the gold medal when it comes to social media.

The other way being that Libra has had a lot of controversies since before it was even announced. Given Facebook’s rough reputation with security, this is understandable.

Last month, Dorsey said that he wouldn’t be following in the same footsteps as Facebook with Libra as he prefers the current crypto options available to him.

“I think [Bitcoin's] the best bet because it's been the most resilient, it's around for 10 years, it has a great brand, and it's been tested a bunch. [...] As I look at all cryptocurrencies that could fill that role of being the native currency for the internet, [Bitcoin is] a pretty high probability.” 

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!