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- It is Africa, and not Europe, that will be Bitcoin’s next frontier
- Poverty and other development areas will spur adoption in the continent
Jack Dorsey, Twitter CEO and big cryptocurrency enthusiast, has predicted that despite the accelerated development and adoption in the European countries, it is Africa that will determine the future of the industry. He expressed his opinions regarding this matter at the end of his African tour of Nigeria and Ghana via Twitter. He also wants to tour the whole continent in 2020.
Dorsey is one of the most outspoken proponents of the world’s largest cryptocurrency. He has called for people to invest in Bitcoin, in stark contrast to other tech billionaires who have mostly spread caution regarding the industry. Dorsey has also called for greater use cases of the cryptocurrency to bring it to the mainstream.
He sincerely believes that Africa will be the next frontier of Bitcoin and to promote this he is planning to live more than six months in the continent next year. During his recent stint in Nigeria, he also joined up with a Bitcoin meetup to exchange ideas.
The move comes after Africa is coming to the forefront both in use cases of cryptocurrency and the adoption of blockchain technology. Along with poverty alleviation and area development, Africa will likely become the biggest adopter of bitcoin in the near future. People like Jack Dorsey will have a huge role to play in the near future.
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Jack Dorsey, Twitter and Square CEO, has rubbished the rumors of the launch of a platform-specific “Twitcoin” cryptocurrency, adding that he will instead invest in promoting Bitcoin (BTC).
According to a news report, Dorsey said that he is not looking to follow the example of Facebook’s Libra and release Twitter’s version of crypto. Instead, he tipped Bitcoin to turn into the internet’s native currency. He added:
“I think open internet standards serve every person better than ones controlled or started by companies.”
He also expressed his views on banks and the economy in general during a visit to Melbourne, Australia, saying that authority and control of banks were universal but more pronounced in Australia, which he claimed was always facing risk of recession after coming out of one. He warned: “… anyone who offers an opinion on this is fooling themselves. […] There’s no one person on this planet that understands the global economy.”
He reiterated his belief in Bitcoin by stating:
“I think [Bitcoin’s] the best bet because it’s been the most resilient, it’s around for 10 years, it has a great brand, and it’s been tested a bunch. […] As I look at all cryptocurrencies that could fill that role of being the native currency for the internet, [Bitcoin is] a pretty high probability.”
Dorsey has been a big proponent of Bitcoin itself and has supported it on numerous occasions.
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The post Jack Dorsey: Twitter No Interest in Libra-Like Crypto appeared first on BitcoinNews.com.
If Twitter’s Jack Dorsey is reluctant to condone a Facebook cryptocurrency, he hasn’t actively spoken out against it. But according to him, cryptocurrency’s greatest asset, Bitcoin, belongs to everyone.
The co-founder and CEO of Twitter, and founder and CEO of mobile payments company Square, has in fact stuck to his call for “a currency for the internet” which is not controlled by any one entity. Bitcoin is still that currency of the internet according to Dorsey:
“I haven’t seen any other currency that would challenge it across the dimensions that I think are really important. First, I think it has an amazing brand. The other thing that I think makes it probably the strongest candidate is that the principles behind it are very pure. The creation of it was very pure, and focused on a public good, rather than any other particular agenda.”
Dorsey claims that Bitcoin is the world’s only chance to remove financial global barriers and hopes that in future, all private companies will see the value of Bitcoin as a stateless currency which is there for all. His words hint that he feels that Facebook’s proposed cryptocurrency won’t be that vehicle when he calls for a cryptocurrency-for-the-net which is not controlled by one organization, or as he recently commented:
“There is not going to be any one party or institution that makes this happen, and there’s not going to be any one party or institution that can stop it from happening.”
As for Jack Dorsey’s personal relationship with Zuckerburg, of course, he once dined with the Facebook titan. He recounts the event, “Mark Zuckerberg killed a goat with a laser gun and knife, then served us the cold, still raw meat,” and jokes, “revenge is a dish best served cold.”
That comment is best left to future interpretation.
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