Category Archives: Jack Dorsey

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Bitcoin Predicted to Dominate Future of Online Marketplaces

Bitcoin is becoming the world’s number one internet currency. This is according to Jack Dorsey, the owner of Square. He says that Bitcoin will emerge with time to become the Internet’s “native currency”, with the increasing popularity of the currency to overrun other internet currencies and become a preferred medium of exchange.

Bitcoin’s predicted future dominance

Jack Dorsey predicted the future dominance of Bitcoin back in March 2018 during an interview with Elizabeth Stark of Lightning Labs, where he expressed belief that when native internet currency emerged, Bitcoin would be at the fore..

Speaking during the Consensus 2018 Conference in New York, he said that the internet deserved a native digital currency that would become the mode of all payments for all transactions running across the web.

The digital marketplace

The concept of digital currency is entrenched in the world of online trade. In many instances, new digital currency such as Bitcoin has been the subject of discussion.

“Similarly, a day never lapses at Square without people discussing the idea of Bitcoin dominating the future of all internet transactions,” added Dorsey. Despite some people being skeptical about the digital currency, the open access policy will inspire its quest for dominance in all internet payments.

Payments solutions boosting the rise of Bitcoin

Additionally, the payment solutions developed for blockchain recognizes the significance of Bitcoin.

“At Square, any payment that comes across our table, the seller should be able to accept it,” remarked Dorsey. Square is in the payment industry and applauds Bitcoin’s role in ensuring swift and safe payments through the internet.

Square has a system that accepts Bitcoin payments. According to Mike Brock, an engineer at Square, the reason why they settled on Bitcoin is because of its simplicity.

Simple payments

Mike and Dorsey were eyeing simple internet payments that would work like any other common dollar payments. With Bitcoin, simple transactions like coffee purchases would not look any different as a transaction, so much so that cashiers might not even notice that the payment was in Bitcoin.

Square will build systems that will accommodate the payments for consumers and merchants. It wants to push for the acceptance and the dominance of Bitcoin payments by developing payment solutions. However, according to Dorsey, the goal for all these payment solutions must remain the same – just like walking into a coffee shop and making payments with Bitcoin.

 

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Apple, Twitter Founders Upbeat on Future of Bitcoin and Blockchain

Apple co-founder Steve Wozniak, appearing at the WeAreDevelopers World Congress in Vienna on Wednesday, told the assembled audience that he saw both blockchain and cryptocurrencies reaching their future full potential in just a decade, according to Cointelegraph.

Wozniak’s speech at the IT conference, Europe’s largest of its kind attracting roughly 8,000 visitors from 70 countries, opened the event, where he was attending to present his views on how blockchain was shaping the future of the technology sector. On this occasion, he focused his attention on the advancement of blockchain in his address with a less flamboyant approach, unlike his comments at the October Money 20/20 conference in Las Vegas last year, when he referred to Bitcoin as “better” and more “stable” than gold.

Referred to by the Apple co-founder as “the next major IT revolution that is about to happen”, Wozniak suggested that within the decade, decentralized technology would need to be adopted more widely and not simply limited to cryptocurrency, but applied to a diversity of sectors. However, he did point out that DLT had an advantage over fiat currencies due to the limitation on how many Bitcoins could exist, given that the US dollar could simply be printed, describing Bitcoin as more “genuine and real”.

Another major IT player, Jack Dorsey, was speaking at another gathering, the Consensus conference in New York, on the same day. The founder of Twitter and CEO of Square expressed a view there that he was positive that, in the future, the “internet is going to have a native currency”, hoping that it would be Bitcoin. He said that a common digital currency used by everyone would be the future, although until then people would continue to use various digital and traditional currencies to pay for goods and services, Fortune reports.

Like Wozniak, Dorsey has long been a supporter of Bitcoin and other digital currencies. His company Square allows for Bitcoin transactions, and buys and sells the digital currency.

 

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NYC BlockChain Week Under Way with Twitter CEO, Fed President and Snoop Dogg

The inaugural Blockchain Week has come to NYC, courtesy of The New York City Economic Development Corporation (NYCEDC) and CoinDesk.

Designed to showcase New York as a rising hub for the blockchain sector, the Midtown gathering, including key event Consensus, could be a more flamboyant affair than it might sound to those unfamiliar with the world of blockchain and digital currency, with more than 100 sponsors such as IBM, SAP and Microsoft Corp.

The expected 8,000 attendees to just one of the week’s events will feature hundreds of speakers, including Twitter Inc CEO Jack Dorsey, Federal Reserve Bank of S. Louis President James Bullard and FedEx Corp CEO Frederick Smith, according to co-sponsors CoinDesk.

The conference is not for the faint-hearted, with ticket prices ranging from USD 1,499 to USD 2,999, reports Bloomberg. Attendees on the first day were greeted by UpHonest Capital’s MK Li sporting a pink button-down shirt with a purple bowtie, clutching a sign which read, ‘Help a fellow VC to pay for this expensive conference!’, protesting what he felt was the ironic price tag of decentralized technology that was meant to purge expensive middlemen.

However, Blockchain Week is appearing to attract a wide spectrum of attendees from across the crypto space.  The opening event on May 10 event, included “a pink-haired woman in a dress suit sat across from a scruffy-bearded man in a jean jacket while crypto heavyweight Mike Novogratz told tales of meeting with Deutsche Bank AG and Goldman Sachs Group Inc”, according to Bloomberg.

Transport of choice for some appears to be the iconic Italian icon, the Lamborghini, many of which were seen roaring through midtown Manhattan towards the conference venue, hired at a cost of around USD 1,000 a day.

The after parties when the week winds to a close will include a bash hosted by Ripple featuring a gig by Snoop Dogg at a secret location in Manhattan’s Meatpacking District.

 

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