Jack Dorsey: “The Internet deserves a native currency. I hope it's Bitcoin”

17 May, 2018
by Richard Allen
Jack Dorsey: “The Internet deserves a native currency. I hope it's Bitcoin”

Jack Dorsey, Twitter and Square CEO, expressed his optimism about the future of cryptocurrencies in their role as payment methods, stating that “the internet deserves a native currency” and “it will have a native currency,” Bloomberg reports.

At the Consensus conference on Wednesday, Dorsey spoke about his vision that virtual currencies are the future of legitimate payments. He said he is unsure whether or not it will be bitcoin, but “I hope it will be.” Dorsey said:

“This technology is a fundamental shift to our world and can have so many positive outcomes. We have to do the work to educate regulators and educate the SEC why this technology is important.”

Square allowed users to make payments with bitcoin in 2014 and made BTC trading available for almost all users of the Cash App in February of this year.

However, not everyone was as enthusiastic about the shift. “I’ll be frank," Dorsey said. "This was a pretty contentious move in the company,” adding that there are still fights over the topic.

Dorsey says the main goal of Square is still to build a full bitcoin payments solution for merchants and customers:

"We want to go back to that original idea of being able to purchase a coffee with it. And that's why we're working with [Lightning Labs]," said Dorsey. "Whatever it takes to get there, we're going to make sure it happens."

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