September 29, 2020 | technology | No Comments
Dorsey, who earlier this month said bitcoin is “probably the best” native currency of the internet, has previously gone as far as saying bitcoin has the potential to be the world’s sole currency by 2030.
Now, speaking at the virtual Oslo Freedom Forum 2020, Dorsey has said bitcoin and its underlying decentralized blockchain technology are the future of Twitter.
“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,” Dorsey told Human Rights Foundation president Thor Halvorssen.
“The whole spirit of bitcoin, for instance, is to provide a trusted system in a distrusted environment, which is the internet,” Dorsey said.
Dorsey said he expects his recently established nonprofit Blue Sky, which is in the midst of recruiting “a team of up to five architects, engineers, and designers,” to create a public blockchain platform and open Twitter protocol.
“The goal is for Twitter to ultimately be a client of this standard,” Dorsey, who is also the chief executive of payments company Square
“[Blue Sky] is a completely separate nonprofit from the company [Twitter],” Dorsey told Halvorssen. “We’ll focus on becoming a client of it so we can build a compelling service and business where anyone can access and anyone can contribute.”
“You see this most fundamentally in bitcoin and in blockchain. The keys will be more and more in the hands of the individual,” he added.
Dorsey has recently renewed his push towards decentralization in the aftermath of Twitter’s massive July security breach that saw many of the micro-blogging platform’s biggest users hijacked and used to promote a bitcoin scam.
“Security is not anything that can ever be perfected, it’s a constant race,” said Dorsey, speaking at the virtual event on Friday. “The more we’re giving the individual the keys, the safer we’re going to be.”
Earlier this month, Dorsey told Reuters bitcoin is “probably the best” native currency of the internet due to bitcoin being “consensus-driven” and “built by everyone.”
Dorsey spoke to Reuters just as Square announced it’s inviting other cryptocurrency firms to join an “‘alliance” that will pool patents and preserve the industry’s open-source spirit, called the Cryptocurrency Open Patent Alliance (COPA).