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Jack Dorsey, co-founder and CEO of Twitter Inc. and Square Inc., speaks during the Bitcoin 2021 conference in Miami, Florida, United States on Friday, June 4, 2021.
Eva Marie Uzcategui | Bloomberg | Getty Images
Square CEO Jack Dorsey has high hopes for digital assets and budding bitcoin.
“My hope is that this creates world peace or helps create world peace,” Dorsey said during a “The B Word” webinar on Wednesday.
“We all have these imbalanced monopolies and the individual has no power and the amount of cost and distraction that comes from our monetary system today is real and it distracts attention from bigger issues,” he said. added Dorsey. Tesla CEO Elon Musk and ARK Invest Founder, CEO and CIO Cathie Wood were also speakers.
“All of these distractions that we face on a daily basis are taking us away from these bigger goals that affect every person on this planet and more and more. You set that fundamental level and everything above it improves in such a way. spectacular. be long term but my hope is definitely peace, ”added the founder of Twitter.
Dorsey is a long-time advocate for digital currency, saying that in 2018 cryptocurrency will eventually become the world’s “single currency”. Last year, Square bought around $ 50 million worth of bitcoin, which is roughly 1% of its balance sheet.
Last week, Dorsey announced that Square is starting a new business focused on “decentralized financial services” using bitcoin. Decentralized Finance Applications, or DeFi, aim to recreate traditional financial systems, such as banks and exchanges, with cryptocurrency. Most run on the ethereum blockchain.
Dorsey said on twitter On Thursday evening, the company is “focused on creating an open development platform for the sole purpose of facilitating the creation of non-custodial, unlicensed and decentralized financial services.”
Following this announcement last week, Wood’s ARK Invest bought another 225,937 Square shares worth about $ 53.6 million, based on Square’s closing price last Thursday.
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