Over the years cryptocurrencies, particularly Bitcoin caught the eye of prominent personalities across the globe. While the coin was made for the average Joe to break from the shackles of centralized institutions, several authorities and notable people took a keen interest in Bitcoin. Founder and CEO of a prominent social network company, Twitter, Jack Dorsey have been a great supporter of the crypto-verse and continues to support Bitcoin.
Bitcoin Is The Best Manifestation Of An Internet Currency
In a recent interview with Reuters, Dorsey pointed out that the internet was need of a native currency and believes that Bitcoin has fulfilled the same. He further suggested that no other coin could fill Bitcoin’s shoes as the native currency of the internet.
— Reuters (@Reuters) September 10, 2020
Highlighting the importance of toolmakers or developers, Dorsey detailed that it was essential for toolmakers like him to make Bitcoin easily available to people. He also stressed on how it’s his job to make it easy for individuals to understand as well as utilize the digital asset effectively.
Dorsey went on to elaborate on the plans he had to make Bitcoin easy and feasible for the community. He said,
“One is just transaction times and efficiency. So making it cost-effective and making it time-effective. The second is, intuitive to people; that they understand why they might use it, they understand where it is, and they can access it in a way that feels similar to just handing over paper cash.”
Almost every other coin that has entered the crypto-verse have tried to resolve the shortcomings of the king coin, however, Dorsey believes that Bitcoin should be built in such a way that is it “as intuitive as fast and as efficient” as it is today.
No More Stifles To Innovation
In other news, Dorsey’s payments company, Square rolled out a platform dedicated to preventing companies from locking innovations pertaining to cryptocurrencies in patents. The Cryptocurrency Open Patent Alliance [COPA] is a non-profit platform that hopes to aid in the growth of cryptocurrency technology.
The platform is reportedly open for membership and members would be required to pledge for the availability of their patents via a shared library. The announcement further read,
“As more members join and declare that they won’t offensively assert their patents against others, the overall incidence and threat of patent litigation comes down.”
Dorsey’s latest move seems beneficial to the crypto ecosystem, however, Square revealed that it was open to feedback with regard to its new platform.