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Home / ukraine / Twitter CEO commented on Facebook's initiative for the crypto currency and called the principles behind Bitcoin's clean

Twitter CEO commented on Facebook's initiative for the crypto currency and called the principles behind Bitcoin's clean



The Internet should have its original currency. However, one particular company can not create that currency, nor can it prevent its occurrence. So far, Bitcoin is the best candidate for such a responsible role, co-founder of Twitter and Fintech startup Square Jack Dorsey.

Dorsey stressed that such a unique digital currency would allow communities and countries around the world to unite through more affordable financial services.

"More and more people are using the internet. Imagine that everyone will have access to one currency, but at the same time they will be able to turn it into their national currency. This will remove the barriers of the past and change our view of global markets. "– said in an interview with Quartz.

The entrepreneur pointed out that the internet is not under the control of a company or a particular government. So, it is open to the world and to any person. The same should be the original currency of the world network.

"I hope that all private companies will recognize the value of the currency without the state, which everyone has access to without any restrictions from one legal entity"– Dorsey commented on rumors about Facebook's GlobalCoin project, saying he did not know the details of this initiative.

Dorsey remains loyal to Bitcoin and believes that for 10 years the existence of the first crypto currency has proved ideal for the role of the domestic currency of the Internet.

"This is the best candidate in terms of the purity of the principle at its core. It was created in the name of the public good, but not for other purposes. "– added CEO Twitter.

An important aspect of Bitcoin is, in his opinion, a deflationary model that motivates people to accumulate, and not spend money, which positively influences our understanding of consumption.

"This is a rare resource and there is a possibility of constantly increasing its value. In view of this, you will think about a hundred times before buying a coffee or, for example, a sofa, because a week later the biktoin can be raised. Do you really need these things now? This is very interesting from a psychological point of view. "

Bitcoin is resistant to security threats, government attacks, manipulation of miners, forks and other risks. The first crypt has proved this in the past 10 years, says Dorsey.

"Some sort of new currency crypt could be caused by Bitcoin, but it did not pass all those tests."

Bear in mind that Dorsey is convinced that the whole financial system functions due to gradual degradation to the lowest common denominator in the form of cash. However, in the future, he believes, the use of cash in digital form will prevail – and it's not about plastic cards.

Earlier, ForkLog wrote about how Jack Dorsey opposed the establishment and supported Bitcoin on the way to becoming the home currency of the Internet.

Jack Dorsey from Twitter Against Founding: Will Bitcoin Become the Domestic Currency of the Internet?

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