Twitter and payment giant Block (formerly Square) founder Jack Dorsey expressed his hope that Bitcoin could promote world peace in an interview on the 25th. He also shared his latest views on Bitcoin.
Summary:
Jack Dorsey’s Block unveils the prototype of a “Bitcoin cold wallet”: Self-custody is the future after FTX collapse.
Background:
Block aims to let everyone mine Bitcoin: Jack Dorsey designs open-source ASIC system to lower mining threshold.
Table of Contents:
Hopes for “Bitcoin to promote world peace”
Bitcoin’s energy consumption is equivalent to that of a clothes dryer
Optimistic about Bitcoin’s application in remittances
Jack Dorsey, co-founder of social media giant X (formerly Twitter) and payment giant Block (formerly Square), has focused on investing in the development of Block and the Bitcoin ecosystem after stepping down as CEO of Twitter in 2021.
As a devout believer in Bitcoin, Jack Dorsey shared his latest views on Bitcoin in an interview video released by Bitcoin Magazine on the 25th.
First, Jack Dorsey expressed his belief that the development of Bitcoin will only get better. He believes that its operation and testing methods are becoming more and more sophisticated, and the network is becoming more flexible. Despite new threats emerging every year, it is amazing to see the community, whether individual developers, companies, or Bitcoin users, point out these threats and repair them in a very thoughtful manner.
When asked about what achievements he hopes Bitcoin can make in the next 15 years, Jack Dorsey firmly answered, “World peace.”
When the host asked about the biggest misunderstandings about mining by the media, the government, and even Bitcoin enthusiasts, Jack Dorsey said that the misunderstandings obviously exist in the debate over energy costs and the energy consumption required by Bitcoin.
At the end of the interview, Jack Dorsey pointed out that besides the problem of centralization in mining, he believes that the biggest problem Bitcoin faces is people feeling disconnected from Bitcoin and searching for use cases. “I think people want to see more stories about use cases to see the value in it.”
He pointed out that one use case that Block is focusing on is remittances, saying, “I think this is a valuable use case for efficient cross-border transfer of funds.”
Further reading:
Jack Dorsey clashes with Visa and Mastercard: Block sues for excessive fees and market monopoly
He stated that value storage is the beginning of Bitcoin’s use cases, and remittances are another important area.