In an interview with a media outlet on February 2, Jack Dorsey, Twitter’s CEO stated that he believes the internet will have its native currency. According to him, there is a possibility that the currency will be Bitcoin given the trials the asset has undergone and the principle that led to its creation.
Jack Dorsey Believes the Internet Will Have a Global Currency
Reportedly, Jack Dorsey is of the opinion that the internet will have its own native currency. This was stated while in an interview, where he was asked if he has plans on launching his own virtual currency. The CEO declined that he does not intend to, however, he bared his mind of what he thinks about the internet and cryptocurrency.
In the case of the latter, Dorsey says Bitcoin will possibly be that native currency given that the asset has stood the test of time and considering the principle that led to its creation. Whichever is the case, the global currency will be one that is easily accessible and will allow us to move faster around the world, he added.
People Treat Bitcoin as a Virtual Gold
On a different note, the CEO stated that people are treating Bitcoin as a virtual gold. Nonetheless, his company aims at making it really simple for people to buy and sell the digital asset. In his own words:
We notice that people are treating it [Bitcoin] as an asset, like a virtual gold. We want to make it easy, just the simplest way to buy and sell Bitcoin. But we also knew that it had to come with a lot of educations, a lot of constraints
Encouraging the Industry by Allowing Bitcoin to be Traded With Ease
The 42-year old also outlined that his company has been encouraging the crypto space. One of such ways is with the launch of CashApp project that allows people to buy and sell Bitcoin. In the CEO’s opinion, CashApp combats one of the problems that were prevalent some years ago. At that time, people had an unhealthy way of purchasing Bitcoin off the bat using their credit card to its limit.
As pointed out by Dorsey, CashApp has certain restrictions that help to control this spending. Purchases cannot be made directly from the user’s credit card, but with the funds that are actually held within the app. He also stated that there were checks on daily trading in order to discourage it.
Educating the Younger Ones About Bitcoin
One more contribution which the CEO revealed as being aimed towards the industry, is educating children on what Bitcoin is. Here, a book has been created to aid in learning and its topic centralizes on the origin of the asset, its uses, and where it’s headed.
BTCNN on December 3 also revealed that a Blockchain-based platform, KidLet is being developed to teach kids about the Distributed Ledger Technology. NEM’s developers, Kaede Takenaka, a 10-year-old girl, and a team of educators are working towards its development.