Square and Twitter CEO Jack Dorsey reaffirms his love for Bitcoin, disinterest in altcoins and central bank digital currencies (CBDCs) as he expands plans to include media-censored social media.

Jack Dorsey – CEO of Square and Twitter

Jack Dorsey is a staunch bitcoiner. He described the Bitcoin whitepaper as a “poem” and donated large amounts of money to expedite the introduction and development of Bitcoin.

Yesterday, at the Bitcoin 2021 conference in the coastal city of Miami, Florida, USA, Jack Dorsey once again underlined this love. During a nearly 30-minute conversation with Alex Gladstein from the Human Rights Foundation, Dorsey expressed satisfaction with Bitcoin, saying:

“Bitcoin has completely changed everything. I think there is no more important job in my life that I can spend time with. “

Dorsey explains:

“Anything my company can do to give people access to Bitcoin is work that I will devote the rest of my life to. If I wasn’t on Square or Twitter, I would be working with Bitcoin. If it needs more help than Square or Twitter, I’ll go to Bitcoin. “

Gladstein guided Dorsey from topic to topic, giving him the opportunity to cover a number of previously announced projects related to Bitcoin and decentralized technology, as well as sharing views on Altcoins and CBDCs. When asked how Bitcoin could help the non-banks (an estimated 1.7 billion people in the world in 2017), Dorsey suggested that the best thing to do would be to get rid of the current banking system.

“We no longer need banks. There is a lot to be done in terms of accessibility and a lot more education so that people have their own ideas. We don’t need the financial institutions that we have today. We have something that is thriving, solid, community owned, and community driven. Bitcoin has an incredible consensus and always tries to do the right thing from time to time. So noble, so rare and so unique. Whatever we can do to build it up and protect it, we are ready. “

Dorsey also spoke about the foundation he made with rapper and entrepreneur Jay Z. in February. They donated 500 BTC (now about $ 18.6 million) to fuel the growth in global Bitcoin demand, starting in Africa and India. Dorsey said they are working on creating a board of directors for the fund, and then the fund will start funding BTC – and it will not have control over the decisions of the board.

Dorsey says:

“Jay Z loves Bitcoin. He does a lot for what he loves, he believes in it and he also believes in the idea of ​​making sure that if we make that much money for the world, it has to grow all over the world.

This morning it was Dorsey tweets that Square is “considering” creating a Bitcoin hardware wallet for unconsolidated inventory, and that it will be created outdoors with community participation. When asked by Gladstein, he seemed a little more certain that it would happen.

“We don’t want to compete with the hardware wallets out there. We just want to take it to the next level and reach another 100 million people with no-custody solutions. We’ll probably do that soon. “

It’s all about Bitcoin for Square and Dorsey.

“That’s why we don’t trade in any other currency or coin. We are very focused on making Bitcoin the home currency of the internet. “

He also discusses the need to support the Lightning Network to make Bitcoin more viable for everyday use and payments.

In fact, Dorsey completely ignored other cryptocurrencies like ETH and DOGE.

“I don’t care about any other coins.”

On the subject of governments seeking CBDCs as an alternative to Bitcoin adoption, Dorsey said:

“They have a hard time moving forward and they are bullshit. We have a much better Bitcoin alternative. “

The conversation was briefly interrupted by right-wing extremist activist Laura Loomer, who was banned from Twitter. She calls Dorsey the “King of Censorship” and says he has “no right here” when it comes to the freedoms Bitcoin offers. Gladstein asked Dorsey if the social network could become more censorship resistant like Bitcoin?

About that incident, Nic Carter at the time comment on twitter:

“Laura Loomer interrogates Jack Dorsey’s Bitcoin conversation with Gladstein and temporarily distracts her.”

Dorsey replied:

“I know many of you disagree with Twitter’s guidelines and the way we develop them. My goal in life right now is to eliminate as much of our corporate status as possible. “

He then talked about Twitter’s Blue Sky initiative to build a decentralized standard for the social network, suggesting that there wouldn’t be the kind of censorship and corporate influence seen on Twitter’s main platform.

“There won’t be any restrictions as you see on Twitter. Fully inspired by Bitcoin, we wanted to do the same for social. I’ll prove it to you. And then we can have a conversation later. “

Minh Anh

After decrypting

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