In his latest remarks, Jack Dorsey spoke about Bitcoin and its role in the future of the social network, noting the ability to integrate Bitcoin with various Twitter services.
to the Report Bitcoin Telegram CEO Jack Dorsey has said that Bitcoin will be one of the key factors in Twitter’s future.
Speaking at the 2021 Second Quarter Revenue Conference, Dorsey emphasized the capacity of Bitcoin to revolutionize Twitter products and services, saying that the digital currency would be “a big part” of the company’s future.
He referred to Bitcoin as the native currency of the Internet and described opportunities to integrate Bitcoin into current Twitter services, including trading, account sharing, and new features such as Tip Jar and Super Follows.
The CEO of Twitter told the company’s investors that there are many innovations that are based on bitcoin and go beyond its capabilities as a currency. He also noted Twitter’s commitment to decentralizing its social network and providing more economic incentives.
Dorsey emphasized that Bitcoin, along with artificial intelligence and decentralization, is one of the three mainstays of Twitter’s future:
I think it is very important that we and Twitter shareholders do not take our eyes off this space and invest in it vigorously.
Dorsey also noted the development of Facebook’s digital currency, emphasizing that Twitter is not alone in dealing with digital currencies. Facebook is expected to test its digital currency, called Diem, this year. However, unlike Facebook, which has launched its own digital currency, Twitter intends to focus on bitcoin as the native open standard of the Internet.
It is quite clear that there is a need for this standard and we need to understand its value. I think focusing on an open standard that is native to the Internet is the right path to take, so my focus and our focus will ultimately be on Bitcoin.
Reports indicate that this is the first time Dorsey has publicly commented on how Bitcoin integrates with Twitter products. The new remarks came shortly after Dorsey spoke about Bitcoin at the ازی Word virtual event with Tesla CEO Ilan Musk and Ark Invest CEO Cathie Wood. Has been.
Dorsey said that if Bitcoin had been created before Twitter or Facebook, the current business model would have been much different.
Certainly not at the time, we were so dependent on the advertising business model.
Dorsey is one of the first tech personalities to embrace bitcoin, and has repeatedly said since 2018 that bitcoin will be the only Internet currency. Square Dorsey, a digital currency sponsor, also bought $ 50 million worth of bitcoins in late 2020, and later in early 2021 bought more of that digital currency worth $ 170 million. .