Jack Dorsey still sees the crypto market leader in pole position.
As fast-paced as the crypto industry is, Twitter CEO Jack Dorsey continues to rely on the long-established market leader Bitcoin ( BTC ).
In an interview with Reuters on September 10th, Dorsey stated that he still considers the potential of the „original“ cryptocurrency to be far greater than that of later projects:
“I believe the internet needs its own currency and Bitcoin is probably the best version of it available so far. And I don’t have the feeling that as soon as anything changes, when you see how many people are working to make it so. “
In this context, Dorsey compares the founding ideas of Bitcoin, mainly those of decentralization and independence, with the founding ideas of the Internet:
“The Internet is democratic and there for everyone, and anyone can develop it further. So the history of the internet is written by the users. It’s the same with Bitcoin, because it comes from the Internet. “
In this respect, he praises the fact that “anyone with a great idea” can be part of the Bitcoin community without he or she “having to be part of a company”.
Dorsey seems adamant about both Bitcoin and the Internet, although he sees the Internet in an idealized form. He means a „network“ that is free from the domination of economic constraints and the market power of large technology companies, something that advocates of blockchain and crypto are increasingly campaigning for.
In order to do justice to this idea of democracy and freedom, Bitcoin above all must strive for greater user-friendliness so that it can be used by the masses
To do this, the market leader must be as “intuitive” and easy to use as existing payment systems. Cost and time efficiency are two other important issues that need to be addressed, according to Dorsey.
Dorsey is fully aware that he has an idealized form of the Internet and cryptocurrency in mind, nonetheless believes that achieving these goals is possible.
To help achieve this goal, Dorsey put together a team of developers on Twitter last year to develop a decentralized standard for social media.
In this context, the Twitter boss had highlighted the challenges of his social network as a centralized platform . He sees blockchain technology, which also serves as the basis for Bitcoin, as a crucial solution for a decentralized future.
“There is still a lot to be done, but we already have the basic building blocks ,” says Dorsey.