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Jack Dorsey has big ambitions for Bitcoin. The Twitter CEO claims that within the next decade, the digital payment system will become the world’s single currency. The 41-year-old believes Bitcoin will soon become as ‘decentralised as the internet’, helping provide ‘greater financial access for all’. Dorsey describes the original Bitcoin white paper as one of the most seminal works of computer science in the last 20 years. The world ultimately will have a single currency, the internet will have a single currency. The Twitter founder’s talk was centred around Dorsey’s new payments firm, Square, which allows merchants to take payments via smartphones and tablets.
Personally, I believe that the internet wants and deserves its own currency that is global, that is free, that is electronic, that is convenient, that is decentralised as the internet is,’ he said. Bitcoin is the internet’s version of money – a unique pieces of digital property that can be transferred from one person to another. They are generated by using an open-source computer program to solve complex math problems. There are others who believe it will be other cryptocurrencies, but I think bitcoin has a very small surface area which makes it potentially a lot more secure,’ he said. It’s been through a lot, it’s been tested a lot and it has a brand name. I believe in its power as actual currency for the world and for the internet’, he added.