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Jack Dorsey hopes bitcoin will bring world peace

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Twitter and Square CEO Jack Dorsey has been around for a long time. In fact, he is so optimistic about cryptocurrency that he believes it can make the planet more peaceful. The billionaire suggested that Bitcoin could help eliminate financial inequality and allow humanity to focus on bigger issues.

“I hope this will create world peace or help create world peace,” Dorsey said. “We have all these monopolies unbalanced, and the person has no power, and the amount of costs and distractions that come from our monetary system today are real and distract attention from more serious problems.”

“All of these distractions that we have to deal with every day are taking away the big goals that affect every person on this planet, and more and more,” he said as notes. “You fix this fundamental level, and everything above it is greatly improved. It will be long term, but I definitely hope for peace. “

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He made comments during a panel titled at a virtual event called The B Word. Tesla CEO Elon Musk and Katie Wood, CEO of ARK Invest, a Square stakeholder, also took part in the discussion.

Dorsey about his belief that Bitcoin will become the “single currency” on the planet within a decade. Earlier this month to create a Bitcoin hardware wallet. Dorsey also said last week that the company is building a “decentralized financial services” business that aims to replicate monetary systems. like banks and exchanges with cryptocurrency.

There are many obstacles between the current state of cryptography and its potential leading to world peace, such as unreliable Internet access in many regions. The power consumption required to mine Bitcoin and process transactions is also at odds with Dorsey’s vision given the environmental impact of many cryptocurrencies.

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