Twitter CEO Jack Dorsey Talks About Bitcoin Adoption And His Fondness for Satoshi’s Whitepaper
Jack Dorsey might be one of the most polarising figures in the world currently. It is not because of his personality though, it is because of his social networking site Twitter. Twitter has become one of the most toxic spaces on the internet with keyboard warriors politicizing every issue under the sun. The site itself has faced accusations of preferential censorship and a flawed business model.
However, when it comes to cryptocurrencies, Jack is certainly one of the first adapters, at least when it comes to top business leaders. He recently came on the podcast Tales from the Crypto, where he spoke about early experiences with cryptocurrency and why he decided to integrate BTC with Square’s Cash App.
Bitcoin’s Massive Acceleration
Technologies such as Telegram, Telephones, Television, Laptops, and Phones changed the world when they arrived. Jack thinks the same will follow for Bitcoin.
“Imagine being born this year, growing up only knowing that the potential for a global currency exists. That is exciting. So, just what that person does, the person born in this year or even the past few years, growing up only knowing that this potential exists – what that person does with that realization is amazing… I think there’s a massive acceleration that is going to happen within the next 10 years because the generation growing up only knowing these technologies exist – pairing AI with blockchain, and being able to have this amazingly accessible environment to program in. So that’s what excites me. The acceleration points rather than the specific points on the timeline.”
It seems like Dorsey is almost envious of the younger generation who can at least see the potential of an entirely new world order. Jack is putting his money where his mouth is. He wants to lead the crypto adoption movement and decided to integrate bitcoin within Square’s Cash App.
“I don’t want to wait around for that to happen to me or to us as a company. I want to help make it happen. That’s why getting more into bitcoin and cryptocurrency was so interesting for us. Apart from artificial intelligence, there’s no other technology that impacts Square more than [crypto]. So we should definitely have a well-formed opinion on what it does, and also how to contribute, how to make sure that we’re going to contribute to the goodness of it.”
Bitcoin's Whitepaper Was Life Changing
Dorsey had been fascinated with cryptography from an early age. That is why when he read the whitepaper by mysterious creator Satoshi Nakamoto, it blew his mind.
“Read it, thought it was beautiful. I think it was one of the most seminal works in the past 20 years in computer science.”
Although really impresses, he did not jump onto the crypto train till 2017. Then he attended the Cash App hack week and collaborated with an engineer called Mike Brock to integrate bitcoin to as a payment option.
“I wanted to figure out if we could store bitcoin and then go across the street — and using our Apple Pay card — be able to spend that bitcoin to buy a cup of coffee. The following week, I actually bought coffee with it, which was really cool.”