CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$50,080.00
  • ethereum
    ETH$1,660.25
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Crypto News » Twitter’s CEO Jack Dorsey: Bitcoin and Blockchain Are the Future of Twitter

    Twitter’s CEO Jack Dorsey: Bitcoin and Blockchain Are the Future of Twitter

    Author: Anthonia Isichei

    Last Updated Sep 29, 2020 @ 14:20

    Jack Dorsey, the CEO of the social media giant Twitter, has said that Bitcoin and blockchain are the future of the platform.

    Twitter chief Jack Dorsey is not letting up on his Bitcoin (BTC) and blockchain evangelism, describing the novel tech as the future of the microblogging platform.

    Twitter on the Blockchain

    Appearing at the Oslo Freedom Forum 2020, Dorsey remarked:

    “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”

    According to the Twitter CEO, Bitcoin builds upon the foundational ethos of the internet, which is the creation of a trustless and distributed ecosystem. Indeed, if the emergence of the internet eliminated information friction, an argument could be made for Bitcoin being on its way to removing economic and monetary friction.

    For Dorsey, the ultimate goal is for Twitter to transition to a public blockchain architecture, thus making the popular microblogging service a wholly open protocol. Commenting on such plans, the Twitter chief added:

    “We’ll focus on becoming a client of it [the planned blockchain] so we can build a compelling service and business where anyone can access and anyone can contribute.”

    A move towards an open Twitter is in keeping with Dorsey’s recent activities in ensuring easier access to technology. As previously reported by CryptoPotato, Dorsey’s financial services firm, Square, recently established a non-profit organization to fight against crypto patent trolls.

    Dorsey’s endorsement of a possible Twitter migration to a blockchain-based framework comes as the company is looking to revamp its security protocol. Back in July, hackers took control of several high-profile Twitter accounts to engineer a crypto scam. With the 2020 U.S. Presidential election only a few weeks away, the onus is on Twitter and other social media services to adopt even more robust security measures.

    The Twitter CEO waxing lyrical about Bitcoin is not a new occurrence. Dorsey is known to hold positive sentiments about the largest crypto by market capitalization.

    Jack_dorsey
    Jack Dorsey, Twitter’s CEO

    Will Dorsey Commit Twitter Funds to Bitcoin?

    While Dorsey is a strong Bitcoin proponent, it remains to see if the Twitter CEO will invest the company’s funds directly in it. Back in August, Microstrategy bought $250 million worth of Bitcoin, making the flagship cryptocurrency its main reserve.

    Shortly after the first buy, MicroStrategy bought another $175 million worth of Bitcoin, bringing the total number of the company’s BTC stash to 38,250 bitcoins. Two other Canadian businesses also made Bitcoin purchases. With concerns over the future of cash amid infinite quantitative easing, hard assets like Bitcoin might become more ubiquitous in the treasury reserves of major corporations.

    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram
    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

    You Might Also Like:

    • jack_dorsey
      Twitter CEO Jack Dorsey Admits: I Only Own Bitcoin, It Is Direct Activism
    • jack_dorsey
      Twitter's Jack Dorsey Calls for Bitcoin Donations in Nigeria's EndSars Protest Against Police Brutality
    • bitcoin_bull
      Bullish for Bitcoin? Twitter Sentiment and BTC Deposits on Exchanges Dropping
    Read more on: Bitcoin Bitcoin Adoption Blockchain

    About The Author

    Anthonia Isichei View more posts by this author

    Anthonia is a fintech writer who has been involved in the crypto space since 2017 covering developments across regulations, adoption, and several other aspects of the Industry. When not neck-deep in the crypto news cycle, Anthonia spends her free time globetrotting and playing video games.

  • bitcoin
    BTC$50,080.00
  • ethereum
    ETH$1,660.25
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    pionexb
    2local
    Bitcoin Editorials
    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Ethereum 2.0 Staking on Exchange vs. Creating Your Node: What You Need to Know

    Ethereum 2.0 Staking on Exchange vs. Creating Your Node: What You Need to Know

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!