CEO of payment startup Square, Jack Dorsey believes that the Internet needs its own native cryptocurrency, and this currency may not be bitcoin. This opinion he expressed in a panel discussion with the CEO of Lightning Labs Elizabeth Stark at the conference Consensus 2018, writes CoinDesk.
“I am inclined to think that the Internet deserves the native cryptocurrency, and he would have it. I don’t know whether it’s bitcoin, but I hope so. I’m a big fan of it,” said Dorsey.
According to him, the idea that one day bitcoin will become the basis for all payments in the network, remains the subject of heated debate inside the Square.
“We allow it to. There are a lot of skeptics, great debate and controversy. But it is born and the magic and creativity,” added Dorsey.
Despite the fact that Square has not yet developed a comprehensive payment solution based on bitcoin for merchants and consumers, according to Dorsey, the company adheres to the vision that surrounded the cryptocurrency from the beginning of its existence.
“We want to return to the original idea and give the opportunity to buy bitcoins for a cup of coffee. That is why we have partnered with Lightning Labs, and will do everything necessary to ensure that this happened.”
Willingness to go to any step to mass adoption of bitcoin, however, does not mean that Square could jeopardize the open nature of the network.
“This is a very open community, and I want to be sure that the corporate world does not threaten him,” concluded Jack Dorsey.
Recall that in March the head of the Square expressed the belief that in ten years, bitcoin will overtake in importance the U.S. dollar and will be the most relevant currency in the world, which will be used by billions of users worldwide.