By CCN Markets: Jack Dorsey is all in on bitcoin. The tech entrepreneur, who is at the helm of both Twitter and Square, recognizes that cryptocurrency and the blockchain will become a “secular trend” in financial services going forward, according to an interview he did with Quartz in London. He doubled-down on his belief that there will be a “global currency for the internet,” and bitcoin remains the “strongest candidate” for the job.
Dorsey likens the internet to the “equivalent of a nation state,’ saying that “it will have a currency native to itself” that will be free from the control of “any one party or institution.” Rather than a Fed-backed cryptocurrency, Dorsey is pushing a decentralized cryptocurrency without any chains on it. He seemingly sees a future where this internet currency is used by companies like Twitter and Square, saying:
“And 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.”
What Jack Dorsey Likes About Bitcoin
It’s no secret that Jack Dorsey is a bitcoin bull, and he reportedly doles out as much as $10,000 weekly to buy his share of the leading cryptocurrency. There are numerous reasons why he believes it’s the frontrunner as the currency of the internet, not the least of which is its “amazing” brand. He’s also a fan of its “pure” principles, a focus on the “public good” and no hidden agenda, “deflationary” characteristics, finite amount, and “resiliency” to “threats and challenges.”
According to an interview Dorsey did with TNW, he has big plans for Square Crypto, with an emphasis on “access” that only cryptocurrencies such as bitcoin can provide. He said the internet’s native currency “will enable [Square] to be more like an internet company.” Square Crypto will reportedly give employees the option to be paid in BTC or…