The Internet will one day have its very own currency, Twitter and Square CEO Jack Dorsey told attendees at the Consensus blockchain conference on Wednesday.
Dorsey, whose comments were earlier reported on by CNET, said he’s positive that the “Internet is going to have a native currency.” And although he couldn’t say for sure what that currency would be, he told attendees that he hoped it would be the cryptocurrency Bitcoin.
Of course, the Internet currently has no “native currency.” People across the world can use a variety of traditional and digital currencies to pay for goods and services. But Dorsey argues that the Internet will eventually move to a currency standard that every person and company would ostensibly use to facilitate transactions.
“Let’s not wait for it to happen, let’s help it happen,” Dorsey said.
Forget about Bitcoin, Ethereum or any of the 1,400+ penny cryptocurrencies…
They’re yesterday’s stories… with the biggest gains ALREADY made.
We’re at the beginning of a major digital revolution… a technological advancement with the power to mint more millionaires than any other investment opportunity since the discovery of electricity and the birth of the internet. Click here to learn more.
Actually getting to a currency standard would likely take significant work and time. While Bitcoin is the most well known of cryptocurrencies, there are several others that have strong backing from the Internet community. And it’s nearly a guarantee that other big companies, like Apple, Google, and Amazon might have something to say about a future Internet currency standard before it’s ever chosen.
For his part, Dorsey has been one of the more outspoken proponents of Bitcoin and digital currencies. His digital payment company Square allows for Bitcoin transactions and the company actively buys and sells the digital currency.
And by the sound of his comments, it doesn’t appear Dorsey is letting up on that support anytime soon.
Source: fortune.com | Original Link