CEO of Twitter and payment start-up Square Jack Dorsey believes that the Internet needs its own native currency, and this currency may well 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’m just approaching with the principle that the Internet deserves a native currency. It will have a native currency. I don’t know if it will be bitcoin. I hope it will. I’m a huge fan.” said Dorsey.

According to him, the idea that one-day bitcoin will be the basis for all payments on the network remains the subject of heated debate within Square.

“We’ve led with that mindset. But there’s still a lot of skepticism and a lot of debate and a lot of fights. But that’s where the magic happens, where creativity happens,” added Dorsey.

Despite the fact that Square has not yet developed a full-fledged payment solution based on bitcoin for merchants and consumers, the company supports the cryptocurrency since its inception.

“We want to go back to that original idea of being able to purchase a coffee with it. And that’s why we’re working with Lightning Labs and whatever it takes to get there, we’re going to make sure it happens,” said Dorsey.

Willingness to take any steps to mass adoption of bitcoin, however, does not mean that Square can jeopardize the open nature of the network.


“There’s so much openness in the community, and I want to make sure nothing in the corporate world threatens that,” he concluded.

In March, the head of Square expressed his conviction that in ten years bitcoin will bypass the importance of the US dollar and become the world leading currency, which will be used by billions of users around the world.

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