Twitter CEO, Jack Dorsey has expressed his belief that Bitcoin will become the “native currency of the Internet” on multiple occasions.
Recently, Dorsey sat down with Quartz and spoke about the cryptocurrency markets, and what to expect in the future for the blockchain industry.
According to Dorsey, the Internet is like a state of its own and needs its own currency and means governance.
“We have all these currencies for every nation-state, but if you consider the internet to be the equivalent to a nation state, it will have a currency native to itself, and there is not going to be any one party or institution that makes this happen, and there’s not going to be any one party or institution that can stop it from happening.”
He went on to say that a global currency will have a positive impact on economic growth all over the world. Dorsey argues, that “having a global currency that is native to the internet will allow companies like ours to move much faster and reach a lot more people.”
When asked about Facebook’s upcoming cryptocurrency project, Dorsey said he doesn’t think a corporate entity can create the world’s currency. He expressed once again, “we need a currency for the internet. And the internet being an entity that isn’t controlled by any company or any one government, that is for the world and for the people of the world.”
When the internet eventually develops its native currency, in Dorsey’s view, it will be fully decentralized. Dorsey has a prediction for the future of money and how people make transactions on the Internet. And he says he’s on a mission to help it come true.
“That is what I would want to help make happen. I would hope that all private companies can see the value of having a stateless currency that all people can access, and is not bounded or constrained by any one corporate entity.”
Dorsey seems to be accelerating the adoption of cryptocurrency through his efforts with the Cash App. With advocates like this, we should expect Bitcoin’s use to gain steam in the near future.