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Jack Dorsey considers Bitcoin to be an important part of Twitter’s future

Jack Dorsey, CEO of Twitter – one of the largest social media platforms in the world – said Bitcoin will play a big role in the company’s future.

Bitcoin – the currency of the internet?

Yesterday, July 22, Twitter published your letter to shareholders for the second quarter. He also presented his financial results for the same period.

During the conversation, Jack Dorsey raised many topics. In light of current events, however, it has focused mainly on Bitcoin and digital assets.

I think, that this [czytaj: Bitcoin] it has a large part of our future. I think there are many innovations beyond the currency itself, especially when we think about decentralizing social media and providing more economic incentives. So I think it is hugely important for Twitter and Twitter shareholders to keep looking at the space and invest aggressively in it

Dorsey said.

The head of Twitter also highlighted the fact that if there was a global internet currency, Twitter could benefit from it. Why? Because he could develop some of his products faster, such as Tip Jar, Subscriptions, Trading, Super Follows, and so on.

Another Dorsey company – Square

As reported earlier, the CEO revealed that his financial services firm Square is planning to build a hardware portfolio. All this to improve and spread the adoption of the primary cryptocurrency.

Jack Dorsey also announced the launch of a dedicated developer platform. They will be able to create non-trust, decentralized financial projects built around Bitcoin on it. The project will be completely open-source, as will its new hardware wallet. The team will be built and led by Square’s strategic development leader Mike Brock.

Square is creating a new company focused on building an open development platform with the sole purpose of facilitating the creation of unlicensed, unlawful and decentralized financial services. Our main focus is #bitcoin. Its name is TBD.

– we could read in tweet.

The interesting part is focusing on Bitcoin. Why? As BTC is currently unable to enter into smart contracts, this makes it difficult for it to compete with Ethereum in the DeFi world. In November, however, it will receive the first major update in several years called Taproot, which will facilitate the creation of smart contracts on the network.

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