More

    Jack Dorsey Confirms Twitter’s Disinterest In Making A Stablecoin Like Facebook's Libra

    Twitter’s founder and CEO Jack Dorsey has confirmed that he doesn't intend to launch a cryptocurrency while on a trip to Australia to promote Square, the other publicly traded company which he co-founded.

    Dorsey, who has long been a vocal Bitcoin supporters believed the cryptocurrency pioneer was still the best bet to be the internet's native currency. He’s invested in Lightning Labs, which is building Lighting, a solution designed to help Bitcoin scale and he also owns Square, which made $2 million in profit in Q2 2019 by selling Bitcoin.

    Mr Dorsey is the chief executive of listed software companies Twitter and Square, which have a combined market capitalisation of over $58 billion.

    In an interview with The Sydney Morning Herald , Dorsey reaffirmed his long-standing commitment to the number one digital currency by market capitalisation. He talked about the openness of Bitcoin ultimately stood it in good stead to provide greater utility to users than existing or forthcoming alternatives. He stated:

    “I think open Internet standards serve every person better than ones controlled or started by companies.”

    He added that Twitter will not be looking to challenge Facebook’ Libra or any other commercially run crypto project. Instead, Dorsey’s preference is for existing, open standards in the same way that the internet evolved in its early years.

    Rather than that, the Circle and Twitter CEO is known to be a financial contributor to a company developing the Bitcoin micropayments layer, Lightning Network. He was also involved in an effort to raise awareness of the scaling technology known as the Lightning Torch earlier this year.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Sritanshu Sinha
    Sritanshu Sinha
    Sritanshu has a keen interest in emerging technologies, startups and economic anthropology. He holds the view that cryptocurrencies are the best bet humanity has got to push the world towards a borderless economy.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,283FansLike
    2,755FollowersFollow
    4,128FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Danone Launches ‘Track & Connect' Putting Baby Formula Supply On Blockchain Technology

    Danone is applying for the first time blockchain, aggregation and serialisation technologies for its infant formula packs. David Boulanger, the company’s senior VP of...

    Deribit Exchange Launches Ethereum Daily Options After Success With Bitcoin Contracts

    The Deribit Exchange specializing in crypto derivatives has launched daily Ether (ETH) options, an announcement from Monday and made on Twitter says. https://twitter.com/DeribitExchange/status/1229345670492016640 The strike price...

    Central Bank of Russia Proposes Amendments To Legal Framework for Tokenization

    The proposed cryptocurrency legislation in Russia could change a lot, now that a new bill for tokenization has been filed. On February 17, the Central...

    Ripple (XRP) Price Analysis (February 17)

    Key Highlights XRP market is under a falling force by the US dollar price valuation. XRP/USD pair’s value now averages a low point at...

    Binance Applies for Singapore Crypto License Under The New Payment Services Act

    Binance crypto exchange through its parent company has applied for Singapore’s new operating license. This follows an upgrade of laws governing crypto in the...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.