Twitter and Square CEO Jack Dorsey has recently argued that bitcoin is the “best manifestation” of a native currency for the internet, as it parallels the community-driven principles of the web.
Speaking to Reuters, Dorsey said he believes the internet “wants a native currency” and that BTC is best-positioned to fulfill that role. He added that Square, which has been letting users buy and sell bitcoin since late 2017 works to make it easier for people to access, understand, and utilize BTC.
The internet, he said, is “built by everyone, and anyone can really change the course of it.” Per Dorsey, bitcoin was built on the internet and has “the same patterns.” Anyone can contribute to the development of the flagship cryptocurrency.
Addressing potential barriers to BTC’s adoption, Dorsey noted that transaction times and efficiency could be holding it back. To the CEO, making it cost and time effective could help bitcoin’s adoption grow.
Moreover, the cryptocurrency needs to be intuitive so people “understand why they might use it, they understand what it is.” Accessibility could also be a problem, he implied. He added:
We have to build bitcoin in such a way that it is as intuitive, it’s as fast, and is as efficient as what exists today.
Dorsey, it’s worth noting, is a well-known bitcoin supporter that earlier this year explained he is a big believer in the cryptocurrency. The crypto venture of Square has notably been supporting Bitcoin developers over time, and has even funded the Eye of Satoshi, a Lightning Network watchtower that monitors blockchain transactions to protect users on the layer-two scaling solution.
Featured image via Unsplash.