Jack Dorsey’s overwhelming NO to Libra’s support of Twitter

Twitter CEO Jack Dorsey made it clear that he has no sympathy for Facebook ‘s Libra cryptocurrency at a media event in New York. Indeed, his answer to the question of whether to support Libra was a sharp no-no , explaining later that Facebook did not need to create a cryptocurrency to democratize the financial system.

It is not an open internet standard that was created on the internet. It was born out of the intent of a company and is incompatible with my personal beliefs and those of my own.

At the same time, he expressed support for the other decentralized cryptocurrencies, considering them to be part of an emerging international online community.

We are not just serving the American public, we are serving an international audience. I think the internet is in some ways an emerging state in almost every way possible. It has almost its own currency in the form of cryptocurrencies and Bitcoin.

Jack Dorsey is also CEO of Square , a company that uses Square Crypto to promote the use of Bitcoin by analyzing code, ensuring that contributions to GitHub remain free of security and performance bugs. Dorsey believes that money should flow as freely as the internet and wants a financial system that works for everyone, not just a corporate elite club.

An internet company can release something and is available worldwide. While with payments, you have to go to every market and talk to legislators. You need to work with a local bank. This is a very slow process in any new market. If the Internet has a currency of its own, it will help us make Square more of your Internet company.

6070cookie-checkJack Dorsey’s overwhelming NO to Libra’s support of Twitter