- Today, Twitter and Square CEO Jack Dorsey attended “The B Word,” a virtual online Bitcoin conference.
- Dorsey discussed his interest in Bitcoin and expressed hope that it will become the native currency of the internet.
- He discussed Square and Twitter’s efforts to promote Bitcoin development without undermining its principles.
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Twitter and Square CEO Jack Dorsey attended “The B Word,” a virtual Bitcoin conference that took place online today.
Bitcoin Is the Native Currency of the Internet
Dorsey began by saying that he sees Bitcoin as having the potential to become the native currency of the Internet.
“If the Internet gets a native currency, what would that be? To me, it is Bitcoin because of [its] principles,” Dorsey said. The principles highlighted in the conference include the open nature of Bitcoin and its independence from traditional banking systems.
Later, Dorsey added: “That is what I want to see…a currency that is standard and sound for the internet that anyone can use.”
“What inspires me most is the community driving Bitcoin, [which] reminds me of the early internet,” Dorsey said. He also called the community “deeply principled, weird as hell, and always evolving.”
Dorsey has made similar comments before, calling Bitcoin the native currency of the internet several times in the past.
Square Is Committed to Open Source
Dorsey went on to discuss his payments company, Square, which is developing solutions for the Bitcoin ecosystem.
Though Square holds $255 million of Bitcoin and handles Bitcoin transactions on behalf of its users, Dorsey emphasized that the financial value of Bitcoin is only part of Square’s focus.
He stated that he is skeptical of corporations and wanted Square work with Bitcoin without disrupting the community. With this in mind, Square hired open-source Bitcoin developers to work on their projects of choice. Square also formed COPA and open-sourced its patents in an attempt to…