Twitter CEO praises blockchain technology and encourages inventing new ways of its use

In a dialogue with the correspondent of The Verge Lauren Goode, the head of Twitter Jack Dorsey tells that blockchain and Bitcoin are indeed promising technologies, but should be thoughtful in its implementation. A long video posted on The Verge contains a thorough discussion about the future of blockchain and bitcoin, where Jack Dorsey expresses his positive thoughts on blockchain and distributed ledger technology (DLT). He says that blockchain is a good method to avoid data discrepancy and for financial accounting, while also telling that this technology is, in fact, so new that some ways of its use and implementation opportunities are still emerging. He tells that finance is just the most obvious sphere blockchain can be applied to, but there are many other problems that can be solved with its use too.

However, he points out that in pursuit of total blockchain implementation people should not make the process more difficult than it was before, distracting the process participants. He is sure there will be some people who will fanatically demand blockchain to be used everywhere, but he, for one, is not ready to jump to such extremes, telling that everybody should be thoughtful about blockchain, always putting optimization and progress first.

Mr. Dorsey also expressed his opinion on Bitcoin, an accepted form of payment in Square since 2014. According to him, this cryptocurrency is beneficial because of its core decentralization concept. He also admitted that he has bitcoin investments, although he couldn’t remember a total sum. He also told a story that for some market analysts might seem to be yet another proof that Bitcoin becomes mainstream and its price might fall later. His friends and family in Missouri are not following the tech news, so he was surprised to hear questions on how to buy bitcoins and is it really some kind of new “digital gold”.