Dorsey Implies Twitter Will Be Blockchain Controlled

Live Bitcoin News
Live Bitcoin News October 1, 2020
Updated 2020/10/01 at 10:06 AM
4 Min Read

Jack Dorsey is back in the news, and once again, he’s pushing the power of both bitcoin and the blockchain technology that supports it.

Jack Dorsey Is Still Pushing Bitcoin

As the CEO of Square and Twitter, Dorsey has always been there to push the bitcoin agenda he holds so dear. He has stated in the past that within the next ten years, he can easily see bitcoin becoming the world’s only currency. He has also stated that it’s the best internet currency, and that he would at some point travel to and live in Africa for three to six months so that he can properly bring the benefits of bitcoin to the continent’s many peoples.

In a recent interview, Dorsey went so far as to say that the future of his own company, the social media platform Twitter, relied primarily on bitcoin and blockchain. He explained:

Blockchain and bitcoin point to a future, and point to a world, where content exists forever, where it’s permanent, where it doesn’t go away, where it exists forever on every single node that’s connected to it. The whole spirit of bitcoin, for instance, is to provide a trusted system in a distrusted environment, which is the internet.

He further stated that his company is now working with a nonprofit firm known as Blue Sky that is recruiting several new team members – including engineers, architects and designers – to build a blockchain system unique to Twitter. Dorsey mentioned:

The goal is for Twitter to ultimately be a client of this standard. [Blue Sky] is a fully separate nonprofit from the company. We’ll focus on becoming a client of it so we can build a compelling service and business where anybody can access, and anyone can contribute. You see this most fundamentally in bitcoin and in blockchain. The keys will be more and more in the hands of the individual.

First thing’s first, however, and Twitter is now in the process of revamping its security protocols after a hack in July that saw many high-profile accounts – including those of former president Barack Obama, Microsoft mogul Bill Gates and current democratic presidential nominee Joe Biden – overtaken by a malicious actor who sought to garner illicit bitcoin funds.

The hacker sent out messages to these figures’ followers telling them to donate bitcoin to specific BTC addresses that were unknowingly owed by the cyberthief. It was believed that all donated funds would be doubled, but this wasn’t the case. Instead, the hacker simply sought to garner funds that weren’t his, and he made off with more than $120,000 in digital currency.

Trying to Improve Safety

Addressing the issue of security, Dorsey commented:

Security is not anything that can ever be perfected. It’s a constant race. The more we’re giving the individual the keys, the safer we’re going to be.

The post Dorsey Implies Twitter Will Be Blockchain Controlled appeared first on Live Bitcoin News.

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