Jack Dorsey calls Bitcoin the Best Currency on the Internet

Kataryna Habeliia September 11, 2020

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Jack Dorsey, The head of Twitter is confident that the cryptocurrency meets the principles of the World Wide Web, so it can become its currency.

But several obstacles are preventing BTC from being recognized.

The Internet requires its currency, and bitcoin is the best contender for that spot, Twitter and Square CEO Jack Dorsey told Reuters. According to him, the cryptocurrency and the world wide web have one thing in common — these tools are developed by the community and built-in accordance with common interests.

“The Internet requires its own currency and Bitcoin is the best option at the moment. I don’t see how this can change, given all the people who are pursuing the same goal and working to unlock the potential of cryptocurrency.” — said Dorsey.

He added that there are several barriers to cryptocurrency acceptance. First, it is necessary to solve the problems of the bitcoin network regarding the speed of transactions — it is low. The BTC blockchain is capable of conducting 4–7 transactions per second, when, for example, this figure for the Visa payment system is 24 thousand transactions per second. Secondly, society has not yet learned all the benefits that digital assets have.

Bitcoin and NASCAR

Dorsey is a staunch supporter of cryptocurrency and helps spread it in the community. For example, in May, the Cash App from Square, owned by Jack Dorsey, added the ability to acquire digital assets. And in July, the Bitcoin logo appeared on a NASCAR car, sponsored by Square.

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