Jack Dorsey's Stance on Blockchain
Recently appearing on Episode #1236 of the widely known JRE (Joe Rogan Experience) Podcast, Jack Dorsey, the Co-founder and CEO of Twitter, and Rogan dive deep into Twitter's past, present, and future roles on the global stage of communication and by extension briefly discuss the blockchain. This comes up since the Cash App has crypto integration.
Jack is already known for his belief that Bitcoin is to become the native currency of the internet. He has re-affirmed this with Joe and described Bitcoin as being born, developed and tested on the internet. Jack feels that eventually all content online will be permanent and exist forever without a central controlling entity.
This can seem strange since Twitter has often come under fire for its censoring and banning of certain users, in the US political sphere especially. In fact the YouTube comments section for the podcast is full of users chastising Jack for claiming social media use as a right while banning users. Jack does try to explain in the podcast that the most important item in their Terms of Service is safety, and the usual justifications for suspending accounts are for harassment or attempts to directly harm another user through the platform. Joe Rogan actually mentions a competitor platform called Gab, who call themselves the "Free Speech Social Network", and how they are supposedly much more lax on content posted by their users. Since the airing of the podcast, that platform has joined the conversation, making it clear that they don't side with Twitter's policies:
Short list of right wing Twitter bans:— Gab.com (@getongab) February 4, 2019
Whether or not you agree with Twitter's policies or Jack's explanations, he is certainly doing his part to support crypto. Jack promotes Bitcoin through trading support with the mobile payment processor Square, of which he is founder and CEO. Beyond that, he intends to use the tech to attain better means to eliminate misinformation and stop scammers on Twitter. Any integration or positive affiliation with Twitter also helps promote Bitcoin and blockchain technologies to an ever-growing audience.
Dorsey also expressed that while some services that run behind the scenes of banks and financial institutions, as well as certain governments, still feel threatened by crypto, most banks themselves actually "all love blockchain" and that they want to use to tech to optimize their business.
While Dorsey is not a fan of day-trading (prohibited on Cash App), his positive words for crypto have gained praise from Binance's CEO CZ as well as VanEck's Gabor Gurbacs. The crypto community definitely needs guys like Jack helping to navigate the frontier of mass adoption.