As the CEO of both Twitter and Square, Jack Dorsey is one of the most influential people in the cryptocurrency sphere. He’s also an advisor to the burgeoning payments startup Ripple. So it’s inevitable that the crypto world would be curious about his thoughts on blockchain.

The “User Interface” (UI) of a blockchain is a key example of a blockchain-based technology. Currently, the user interface for interacting with Ethereum is quite similar to that of the internet of the 1990s. Today, the internet has moved on to the Amazon.com, Facebook, and Twitter of the 1990s, while Ethereum has only just started to catch up with the Amazon.com, Facebook, and Twitter of today.

Jack Dorsey, the co-founder of Twitter and Square, is launching his new cryptocurrency venture, a project called Square Cash. As part of the project, Square will make USD deposits into people’s bank accounts with a Visa-branded debit card. The card will have no annual fee, will offer a 0.5 percent cash back rebate on everything that people spend it on, and will be reloadable at Square’s network of ATMs.. Read more about what is ethereum mining and let us know what you think.

Ethereum alone not enough to disrupt Big Tech: Jack Dorsey

 

Jack Dorsey, the CEO of Twitter and a self-proclaimed Bitcoin (BTC) maximalist, is not giving Ethereum (ETH) supporters an inch. Dorsey recently made an offhand comment on the market’s second-largest cryptocurrency, downplaying the platform’s ability to single-handedly disrupt the Big Tech status quo:

Disrupting “Big Tech” is precisely what’s required, and it’s exactly what I’m looking for.

However, no one technology will be able to do this.

12 August 2023 — jack (@jack)

Dorsey’s remark came after an online debate over the utility of a full-fledged integration of non-fungible tokens (NFTs) into Twitter, which @seyitaylor claimed would benefit Ethereum more than Twitter. 

Although Dorsey acknowledged that such a move would be more beneficial to the Ethereum ecosystem than to his own platform, he added: “Every account on Twitter being able to connect to a Lightning wallet, however…”

Despite Twitter’s past forays into the realm of NFTs – and Dorsey’s personal use of the technology to raise money for charity – Dorsey has remained a strong Bitcoin supporter, much to the chagrin of Ethereum purists and less sectarian crypto enthusiasts. 

“Why the ETH hatred then if there’s space for more than one piece to the puzzle?” one Twitter user asked in response to Dorsey’s remarks. “Focus on one thing isn’t hatred of the others,” Dorsey said. In contrast to Bitcoin, I’ve expressed my worries regarding others. The fundamental values, security, and centralization are all important.”

No, Jack Dorsey isn’t mocking ETH by using the Ethiopian flag as its logo.

@garrytan enquired about the “secret” of Dorsey’s single-minded obsession with Bitcoin, which @timothy skim offered as the veteran crypto’s promise to serve as “sound money,” which he said was “important,” “particularly for the internationally disadvantaged.” Dorsey chimed in to concur, saying that he’s in Bitcoin “to help solve the money” and that he’s “not trolling.”

Dorsey rejected accusations that he was deliberately slamming Ethereum in yet another thread circling the same subject, clarifying that “decentralization isn’t an ultimate goal […] it’s simply one way of mending the money” for him. Dorsey also said on Twitter that although he agreed with the idea of NFTs, his support for Lightning in this context had nothing to do with them and had instead to do with “establishing a currency for the internet.”

This has been Dorsey’s mantra for a long time, since he has claimed that Bitcoin will be the internet’s only currency since at least 2018. Unlike some Bitcoin supporters who believe the fortunes of the two major currencies may one day “flip,” he has remained, as far as is publicly known, hesitant to invest in the altcoin.

This article broadly covered the following related topics:

  • what is ethereum mining
  • how do ethereum mining pools work
  • ethereum price
  • ethereum update
  • ethereum farm
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