Posted 1 year ago | by Bethany Armstrong
Jack Dorsey isn't a fan of Libra.
At a Twitter media event, Twitter's CEO, Jack Dorsey was asked if Twitter would ever join the Libra Association. Without hesitation, Dorsey responded, "Hell no!". He expanded his comments by stating that, "It’s not consistent with what I personally believe and what I want our company to stand for.”
Libra is Facebook's cryptocurrency project. Libra has faced heavy scrutiny from U.S. lawmakers and leaders all over the world. Yesterday, Facebook's Mark Zuckerberg testified before Congress on the topic of Libra.
According to the Verge article, Dorsey "explained that the Facebook-created cryptocurrency initiative didn’t need to be a cryptocurrency to pull of its broader goals of democratizing the financial system.'
While Dorsey was quick to criticize the Libra project, he did praise other cryptocurrencies. Dorsey indicated he sees cryptocurrency "as part of an emergent international online community." On Twitter, the hashtag #cryptotwitter is regularly trending.
Dorsey told the attendees of the media event that when it comes to the subject of cryptocurrency, “I think the internet is somewhat of an emerging nation-state in almost every way,” he told the crowd. “It almost has a currency now in the form of cryptocurrency and bitcoin.”