Jack Dorsey: “The Internet Will Have a Native Currency”

Jack Dorsey, CEO and co-founder of Twitter, has a lot to say about Bitcoin and blockchain. The Twitter co-founder and CEO was interviewed on the popular online show the Joe Rogan Experience, where he spoke extensively about the new form of money and its potential impact on the world.

Saying that “the internet will have a native currency,” Jack Dorsey notes the challenges posed against Bitcoin, while also having firm conviction that the “digital gold” would be the victor in the coming years as new projects and token appear. While he’s not 100% certain that Bitcoin will reign in the future, he does feel it is in a strong position.

In fact, one reason behind Square, which Dorsey founded, allowing Bitcoin as a payment method was because the company wanted to learn about the technology. But he ended his response to  the question “Why Bitcoin?” with the following positive statement:

We would love to see something become a global currency. It enables more access. It allows to serve more people. It allows us to move much faster around the world.

As is the case with the many individuals who have taken to the technology, its innate democratic benefits – true to the internet’s original vision –  are what attracts Dorsey to Bitcoin.

It’s very principled, it has a strong point of view, and I love that it was put out there through pseudonymity, which just feels very internet to me… The whole thing just feels very native to internet ideals, and that appealed to Me a lot. This thing that was ideated on the internet, and then created on the internet, released to it, and then continues to be developed throughout it.

Dorsey also believes that Bitcoin could simply assimilate the plus points of its competitors to maintain its upper hand. This, in combination with its “spectacular brand strength”, gives Bitcoin an edge as cryptocurrencies mature into an established market.

The brand strength, the brand of Bitcoin is really spectacular. It enables more of that resilience. It’s a mainstream, well-known ‘household’ concept. Not everyone really knows what it might be for, and may have different perspectives on what it does… but everyone knows that it’s digital currency, digital money, a digital asset, Dorsey said

All in all, it appears that Dorsey and his equals see blockchain and cryptocurrencies as an inevitable technological evolution that will enable people and businesses to do more, and do it more efficiently. Without thinking about what value it can bring, he says, it can make those who resist technological change irrelevant.

Meanwhile, the Brave Browser already allows tipping on Twitter.