Twitter CEO Predicts Bitcoin Will Replace All Currencies In Next 10 Years
It’s the year 2028. You’re on your fourth margarita in sunny Cancun, Mexico, and instead of messing around with pesky pesos and the currency exchange, you pay your bill with bitcoin. This is what Jack Dorsey imagines for the future of global commerce. But who is Dorsey, and why does bitcoin matter?
Jack Dorsey is a pretty powerful dude. He’s the CEO of Twitter, a computer programmer and internet entrepreneur worth about $4 billion, and he’s got a lot riding on bitcoin’s back.
Dorsey’s not only a personal investor in the world’s first cryptocurrency, but he’s also the CEO of Square, a mobile payments company. Square announced in November it would begin allowing the buying and selling of bitcoin on its Cash app, and Dorsey also invested in the startup Lightning Labs, which plans to make bitcoin faster and easier to use. Basically, Dorsey believes in 10 years or less bitcoin will be used to purchase little things like your morning coffee or even groceries.
You’re all probably wondering, what in the world is cryptocurrency, let alone bitcoin?
Cryptocurrency is a digital form of currency that employs an encoding technique so only authorized users can access it. This type of technique, known as encryption, is used to regulate the general units of currency and transfer of funds all without having to answer to a central bank. Pretty cool, eh?
Bitcoin, in particular, was the first form of cryptocurrency that took the world by storm after it was created in 2009. Since then, more than 1,500 other different cryptocurrencies have been created. And the list keeps growing. Check out the video below to learn more about bitcoin specifically, and how it began.
Now, how do I get my hands on one of these fancy things?
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