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Jack Dorsey, of Twitter, believes that the world would be better served by an open-source, open source currency, such as bitcoin, than by centralized, corporate-owned projects.
No luck of a "Twitter cryptocurrency"
Talk to The Sydney Morning Herald, the founder of Twitter said he did not intend to create a Twitter cryptocurrency. Commenting on the question, Dorsey joked:
I think open Internet standards are better for every person than those controlled or created by companies.
In June, Facebook published a white paper on its Libra cryptocurrency project. Since then, the authorities of several governments have expressed their opposition to this plan.
Dorsey is not the only one to be wary of centralized digital currencies. As reported by Bitcoinist, there is some discontent among the XRP holders as a result of Ripple's perception of token dumping.
While calls have been made for the channel to become difficult, the company has recently removed $ 130 million of XRP from escrow, exacerbating the debate.
Ripple continues to engage in numerous large transaction back-ups that critics say dilute the price of XRP. However, the company is addressing its main concern to create a utility for XRP and its payment product line.
Bitcoin is the best bet
True to its usual position, Dorsey reiterated his belief that bitcoin would become the native currency of the Internet. Providing further comments on the subject, Twitter's leader and Square noted:
I think [Bitcoin’s] the best choice, because it is the most resistant, it has been around for 10 years, it has an excellent brand and has been tested several times. By examining all the cryptocurrencies that could fulfill this role of local currency for the Internet, [Bitcoin is] a fairly high probability.
On Tuesday (September 4, 2019), Anatol Antonovici of Bitcoinist examined the argument in favor of a cryptocurrency that would become the next world reserve currency.
According to Travis Kling, of Ikigai, all the known historical history is consistent with the fact that the world reserve currencies have a useful life.
While Dorsey strongly believes in the suitability of Bitcoin as a native Internet currency, there does not seem to be such a big jump in getting global reserve currency status.
Square, the other Dorsey company, continues to benefit greatly from bitcoin. The payment service in August revealed that it had generated more than $ 125 million in revenue thanks to Bitcoin.
Do you think that bitcoin can become the global Internet currency of the future? Let us know in the comments below.
Images via the Bitcoinist image library
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