SAN FRANCISCO: Twitter and Square CEO Jack Dorsey has once again reiterated that Bitcoin and Blockchain technology is the future of his micro-blogging platform to keep it more secure from hackers. Dorsey last year announced a non-profit platform called Bluesky to develop an open and decentralized standard for social media.
"Blockchain and Bitcoin point to a future, point to a world, where content exists forever. We're not in the content hosting business anymore, we're in the discovery business," the Square CEO said during the virtual Oslo Freedom Forum 2020 last Friday.
Dorsey expects Blue Sky to create an open Twitter protocol, which users can contribute to and access data from instead of a centralized service where the social media platform hosts content on its website.
"(Blue Sky) is a completely separate nonprofit from the company (Twitter)," Dorsey said.
"We'll focus on becoming a client of it so we can build a compelling service and business where anyone 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," he added. Oslo Freedom Forum is "a series of global conferences run by the New York-based non-profit Human Rights Foundation (HRF).
Dorsey said: "I fundamentally believe that security is something that can never be perfected... it's a constant race, it's a constant push to be 10 steps ahead of hackers".
"The whole spirit of Bitcoin, for instance, is to provide a trusted system in a distrusted environment, which is the internet, and those technologies will provide us new capabilities where we can do this internally as well and provide a lot more peace of mind".
Dorsey has made absolutely no secret of his love for cryptocurrency over the years. Twitter is also considering a feature that would allow users to tip one another in Bitcoins. The Information reported recently that the micro-blogging platform is working on implementing a new payment feature to let people send money to each other.
According to the Twitter CEO, Bitcoin will one day be the currency of the internet and his company Square integrating cryptocurrency payments. Dorsey has also hired Bitcoin developers for his payments company. (IANS)