Jack Dorsey, CEO of Twitter and one of the most recognized Bitcoiners in the crypto space, stated that Bitcoin will be “a big part of Twitter’s future.” The crypto developer and investor stated that the cryptocurrency will be integrated into the products and services offered by the social networking platform, including commerce, subscriptions, payment services and other new additions such as the promised Super Follows.
Dorsey made these statements during a conference phone call with its investors about Twitter's financial results for the second quarter of 2021. Although Dorsey did not explain how bitcoin will be integrated with the social network's products and services, this announcement highlights his interest in promoting the growth and development of cryptocurrency in the world.
Jack Dorsey is one of the biggest Bitcoin advocates in the world. On many occasions, Dorsey has expressed his deep enthusiasm for the innovation that accompanies this cryptocurrency and has said that if he were not working at Twitter and Square, his other company, then he would dedicate himself fully to the development and promotion of Bitcoin.
The programmer and entrepreneur also spoke in June about the integration of Lightning Network, the second-layer network for Bitcoin scalability, to Twitter, indicating that this was only a matter of time.
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Relevant trends on Twitter
During the conference call with his shareholders and investors, Dorsey explained that there are currently three relevant trends for the development of Twitter and its business model. Specifically, Dorsey said that the adoption of Bitcoin next to Artificial Intelligence and decentralization will help the social platform improve and optimize its business, growing as a leader in each of these current trends.
“With Artificial Intelligence and Machine Learning we increase relevance and performance”, Dorsey said, indicating that this is one of the long-standing problems that the platform has faced and that it works to improve every day. He also indicated that with decentralization, Twitter will be able to increase its trading volume and improve access. For the CEO, the quality of interaction offered to users through Twitter is one of the highest priorities today.
Bitcoin, the native money of the Internet
Regarding Bitcoin, Dorsey said that as a decentralized and global cryptocurrency, it has become the native currency of the Internet, which the platform must adopt to guarantee users of the social network, as well as businesses and companies, the ability to freely trade goods, products and services at any time and from anywhere in the world, efficiently and safely.
Dorsey wants to revamp Twitter and drive a new business model that benefits investors and shareholders as well as users, and he relies on Bitcoin's disruptive potential to do so.
Through the three trends mentioned above, Dorsey seeks to expand his company's services and allow people to tweet, reply, switch to audio chat, gain followers, write press releases, charge for content and even sell goods and services on an occasional basis - all through the platform.
New Twitter integrations
Dorsey explained that Twitter must evolve and adapt to new developments, creating strategies that boost its business model. In this context, Bitcoin and new technologies have a lot of innovation to offer above digital currencies, so Twitter can take advantage of them to boost its new integrations and products such as Super Follows and Tip Jar, in order to reach all parts of the world.
To clarify, the so-called Super Follow are new features that the social platform is preparing for content monetization, while Tip Jar is a function that will allow users to send money to different accounts of their preference.
Twitter’s CEO cited Facebook’s efforts to develop its own digital currency as an example of the need for companies to adapt to the financial and technological innovation that accompanies cryptocurrencies like Bitcoin. He concluded his speech by stating that “Bitcoin is the right path,” so his and the company’s focus will ultimately be on this cryptocurrency, to open up new and potential use cases for everyone on Twitter.
At the close of this edition, Bitcoin (BTC) is listed on the markets with a value of $33.890 and its capitalization exceeds 635.000 billion dollars.
Continue reading: Lightning Network on Twitter: Jack Dorsey suggests it's “just a matter of time”
