Posted 7 months ago | by Ben Armstrong

Bitcoin Is Still A Strong Competitor In Blockchain Space – Says Twitter CEO

Twelve years since the day it was announced, Bitcoin is still moving forward, and attracting new users to the world's most successful digital currency. Twitter CEO Jack Dorsey recently reiterated his dedication to the one and only Bitcoin (BTC).

Speaking with Reuters – Dorsey, the name behind Twitter and also the founder of Square – a mobile-payment platform, expressed his strong belief that Bitcoin is still the best choice for an internet-native currency despite all the newcomers to the space.

He commented,

“I think the internet warrants a (...) native currency and (...) Bitcoin is probably the best manifestation of that thus far. I can’t see that changing given all the people who want the same thing and build it for that potential.”

Bitcoin is Still #1

Dorsey thinks that Bitcoin's founding principles and the mutual, decentralized concept that he considers the decisive force behind its accomplishment.

To wit,

“The internet is something that is consensus-driven and is built by everyone, and anyone can change the course of it. Bitcoin has the same patterns, it was built on the internet.”

The CEO proved his points by praising the fact that as long as you have a great idea and you're enthusiastic to be part of Bitcoin, you can be part of the community without coming into a company.

Bitcoin is not simply a technical breakthrough, the coin carries a unique mission to perform and to shape the future of economic freedom.

New Ways to Interact

The CEO thinks that Bitcoin and the Internet should be free of oligopoly, an excesses of corporate and political oversight. The enduring asymmetries in power and assets that decentralization proponents have to address can be overcome with Bitcoin.

The potential of ordinary people taking control over future growth of the cryptocurrency and the Internet is the concept that Dorsey supports. It is necessary, according to the CEO, to concentrate on making the Bitcoin experience better in order to reinforce its widespread adoption.

Other Ways to Use Blockchain

Last winter, a Twitter-backed developing team was formed with the aim of building a decentralized standard for social networks.

Dorsey described blockchain, the technology behind Bitcoin, as a crucial technological advancement pointing to the realistic probability of a secure, decentralized future as he demonstrated Twitter's struggles as a centralized network.

“Much work to be done, but the fundamentals are there,” he noted.

Created during the global financial crisis, Bitcoin has a political and economic vision, and thanks to it, the concept of digital currency has improved a lot.

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