Twitter CEO Jack Dorsey Praises Bitcoin, Calls It ‘Future’ Of Company Security
By Landon Manning
Twitter co-founder and CEO and longtime Bitcoin advocate Jack Dorsey has added to his praise of the cryptocurrency and its underlying blockchain, saying it is the future of security and other protocols on the social media platform in wake of recent hacks.
Dorsey has been a persistent advocate for the possibilities of Bitcoin for quite a while now, saying it was 10 years away from being the world’s single currency in 2018 and calling it the “best” of all available cryptocurrencies earlier in September 2020. And, later that same month, Dorsey made more specific and motivated predictions about some parts of Bitcoin’s future, particularly those parts he can take advantage of at Twitter.
The key to understanding Dorsey’s new statements on Bitcoin is to see how the advantages of a decentralized, trustless, secure platform that anyone can contribute to unfolded in a way very close to him. In July 2020, Twitter suffered its worst security breach ever, which first targeted prominent crypto-related accounts before moving to as diverse and high-profile targets as Apple, Kim Kardashian and even former U.S. President Barack Obama, among many others. This scam saw these high-profile accounts tweet out a rudimentary phishing scam for Bitcoin. The hackers pursued individual Twitter employees as points of vulnerability in Twitter’s system, using a social engineering scheme to break through the site’s two-factor authentication.
On September 29, 2020, Dorsey made an appearance at the Oslo Freedom Forum, where he said that Bitcoin and its underlying blockchain technology are the future of Twitter as a platform. He claimed that “the whole spirit of Bitcoin is to provide a trusted system in a distrusted environment, which is the internet,” according to Forbes, and that this trustless approach is the cure to hacks aimed at the very human weak