The internet ‘needs a native currency’ and Twitter’s Jack Dorsey wants to help it be bitcoin
Twitter and Square CEO Jack Dorsey wants his company to be at the forefront of getting cryptocurrencies like bitcoin adopted as global means of payment
By Kate Rooney
Square CEO Jack Dorsey wants his company to be at the forefront of getting cryptocurrency accepted as legitimate means of global payment.
“The internet is going to have a native currency so let’s not wait for it to happen, let’s help it happen,” Dorsey said on stage at the Consensus blockchain conference in New York. “I don’t know if it will be bitcoin but I hope it will be.”
The CEO, who also runs Twitter , said he’s a “huge fan” of bitcoin and appreciates its underlying technology.
Using it or another cryptocurrency as a global currency would lower the barrier for Dorsey’s payments company to enter new markets, he said.
“If we were able to use it as currency today, we could release our apps in every app store around the world instead of the five we’re in,” Dorsey said. Since Square deals with fiat currency, Dorsey said the company has to approach each market differently, find a unique banking partner, and work with different regulators depending on the country.
