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Appearing on the Joe Rogan Experience podcast, Twitter and Square CEO Jack Dorsey said the Internet would finally have a currency that he believes will probably be Bitcoin.
"I think it will be bitcoin"
Appearing on the Joe Rogan Podcast ExperienceWith more than 4.4 million subscribers, Dorsey said it believes the Internet is moving to the local currency. For Bitcoin, the leader of Twitter and Square, first-rate cryptocurrency seems best suited for this role.
Commenting on this possibility, Dorsey said:
I think the Internet will have a local currency and I do not know if it's Bitcoin. I think it will be [Bitcoin] given all the tests she has undergone and the principles that underlie it, how it was created. It was something that was born on the Internet, was developed on the Internet, was tested on the Internet, [and] it's the internet.
In the past, Dorsey made similar remarks by commenting in May 2018 that Bitcoin should be the original currency of the Internet. Dorsey explains that Square focuses solely on BTC and that it currently has no intention of supporting other cryptographic currencies on the Square Cash application.
Bitcoin allows for better financial inclusion
Dorsey told Joe Rogan that Bitcoin adds another dimension to the creative goal easier access financial services. Explaining Square's decision to offer support for the popular cryptocurrency, the CEO said that it allows the company to serve more people around the world much better than through traditional channels.
Dorsey compared the Internet to a single digital nation. It is therefore logical that the country has its own universally accepted currency.
Current fiduciary money is generally subject to nationalist policies that may not please in different parts of the world. Bitcoin, however, is based purely on mathematical algorithms providing some sense of neutrality and universality without any geographical or political bias.
Banks hate the Bitcoin disruption
Dorsey also spoke about the attitude of banks and other players in the traditional financial sector towards Bitcoin. Not surprisingly, banks and many other financial institutions are not fans of the disruptive trends of Bitcoin, said the CEO of Twitter.
Earlier in January, JPMorgan badysts released a report claiming that the value of BTC could only exist dystopian economy. In 2018, the "nocoiner" Warren Buffet, nicknamed Bitcoin "rat poison squared,Which, curiously, implies that the banks are the banks.
However, he also spoke of the philosophical aspect of Bitcoin that changes people's perception of what constitutes value. For Dorsey, it is critical that people critically examine emerging trends or the risk of being left behind, just as the way the Internet has revolutionized communication and the global business process.
As for Bitcoin's fervent critics who repeat exhausted rhetoric, Dorsey says:
Technology will continue to move forward and make you useless.
Do you think Bitcoin will become the native currency of the Internet? Let us know your thoughts in the comments below.
Images courtesy of Shutterstock, Youtube.com
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