Twitter CEO: Bitcoin is a Prime “Currency of the Internet” CandidateBy Sep 05, 2019 1 Min Read
The founder and CEO of Twitter, Jack Dorsey has said that he has not considered creating a native coin for his own social media platforms like the Libra which Facebook had expressed intentions of unveiling as a "new global currency" in June targeting a launch in Q1 of the year 2020.
However, he expressed his full confidence in the ability of Bitcoin to perform perfectly as the "currency of the internet" when compared to any other thing currently obtainable today.
Mr. Dorsey, who has long been a strong proponent of Bitcoin, told The Age and The Sydney Morning Herald in an interview published on September 5, that he strongly believed in the pioneering digital currency, saying that it was still the "best bet" to be the internet's native currency. He stated its open and Decentralised nature allowed it to stand a better chance of providing users with great utility more than any possible alternative can. He said:
“I think open Internet standards serve every person better than ones controlled or started by companies.”
Dorsey had also used the opportunity to promote his payments company Square, and he firmly stated that he has no plans to use the influence and popularity that Twitter had gained to make drive the company into the financial industry himself.
The CEO had also been seen making efforts to raise the level of awareness of people about the scaling technology used for making very small payments efficiently known as the Lightning Torch in the earlier part of this year.