Bitcoin Will Shape Twitter’s Future, Jack Dorsey Says
Bitcoin is gaining more and more popularity and the adoption of digital assets is also going great despite the global crisis in the middle of which we are.
The mainstream adoption of cryptos has been a massive goal that the crypto industry has set and there have been a lot of moves made in this direction so far.
Now, it’s been revealed that the future of social media platform Twitter will be shaped by Bitcoin and its underlying technology, the blockchain, according to chief executive Jack Dorsey.
Business Insider reported that Dorsey was once again endorsing a decentralized social media standard at a virtual conference that took place on September 25.
Bitcoin and the blockchain to shape the future of Twitter
“A lot of our value in the past was around content hosting. So we would host the tweets, the images, and videos,” Dorsey stated during the conference.
He continued and said: “Blockchain and bitcoin point to a future, and point to a world, where content exists forever, where it’s permanent, where it doesn’t go away, where it exists forever on every single node that’s connected to it,” the billionaire told Human Rights Foundation president, Thor Halvorssen.
According to the same online publication mentioned above, Dorsey’s revolutionary conceptualization of open, decentralized social media has the following important goal: to transform the company’s relevance as a “content hosting” platform.
“Right now we’re in the phase of finding a leader for it, but this is a completely separate non-profit from the company,” he said.
He continued and explained, as cited by the online publication mentioned above that “This group will be tasked with building a protocol that we can use and everyone else can use.”
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Regarding the price of Bitcoin today, at the moment of writing this article, the king coin is trading in the green and it’s priced at $10,722.08.
Co-founder and CEO of Twitter and Square, Dorsey has been an advocate for Bitcoin since the early days. Having launched a crypto division of Square early this year (called Cash App - which helps newcomers buy Bitcoin), Dorsey is now making plans to lead the way to mass BTC adoption in Africa.
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Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.