Twitter CEO Jack Dorsey Praises Bitcoin, Calls It ‘Future’ Of Company Security

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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

Twitter CEO Jack Dorsey backs Bitcoin and blockchain technology as the future of microblogging site; Details

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Dorsey has been a vocal advocate of cryptocurrency for a long time.Dorsey has been a vocal advocate of cryptocurrency for a long time.

Blockchain Technology: Twitter CEO backs blockchain technology for microblogging site’s security! CEO of Twitter and Square, Jack Dorsey has reasserted his stand that in order to keep his social media platform more secure from hackers, Bitcoin and blockchain technology is the future. Last year, he had announced a Bluesky, a non-profit platform for the development of a decentralised and open social media standard. During the Oslo Freedom Forum 2020, held virtually, Dorsey last Friday said that Bitcoin and blockchain indicate a world where content would live forever, adding that they were not in a content hosting business anymore, but rather in the discovery business.

Dorsey’s expectations from Bluesky is of the creation of an open Twitter protocol that would also invite contributions from users, as well as allow users to access data from. This would be different from a centralised service where the content is hosted by a social media platform on its website. He also asserted that Bluesky is an entirely separate entity from Twitter, with the former being a non-profit platform and the second one being a company.

He added that the focus was on creation of a service and business where the content can be accessed by anyone, and everyone would be allowed to make contributions as well. This, he said, could “most fundamentally” be seen in the cases of Bitcoin and blockchain, where the control is handed to the customers more and more.

He further said that he was of the view that security could never be perfected, and the developers were in a continuous race to be multiple steps ahead of the hackers.

He asserted that the entire purpose of Bitcoin was to provide a system that could be trusted in an environment

Bitcoin And Blockchain Are The ‘Future’ Of Twitter, CEO Jack Dorsey Reveals

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Twitter
TWTR
chief executive Jack Dorsey is one of bitcoin’s biggest proponents in Silicon Valley.

Dorsey, who earlier this month said bitcoin is “probably the best” native currency of the internet, has previously gone as far as saying bitcoin has the potential to be the world’s sole currency by 2030.

Now, speaking at the virtual Oslo Freedom Forum 2020, Dorsey has said bitcoin and its underlying decentralized blockchain technology are the future of Twitter.

MORE FROM FORBESBlow To Bitcoin As Portnoy Warns Cryptocurrencies Are Just ‘One Big Ponzi Scheme’

“Blockchain and bitcoin point to a future, and point to a world, where content exists forever, where it’s permanent, where it doesn’t go away, where it exists forever on every single node that’s connected to it,” Dorsey told Human Rights Foundation president Thor Halvorssen.

“The whole spirit of bitcoin, for instance, is to provide a trusted system in a distrusted environment, which is the internet,” Dorsey said.

Dorsey said expects his recently established nonprofit Blue Sky, which is in the midst of recruiting “a team of up to five architects, engineers, and designers,” to create a public blockchain platform and open Twitter protocol.

“The goal is for Twitter to ultimately be a client of this standard,” Dorsey, who is also the chief executive of payments company Square
SQ
, said via Twitter in June when he announced the creation of the organization.

“[Blue Sky] is a completely separate nonprofit from the company [Twitter],” Dorsey told Halvorssen. “We’ll focus on becoming a client of it so we can build a compelling service and business where

Blockchain technology is future of Twitter: CEO Jack Dorsey : The Tribune India

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San Francisco, September 28

Twitter and Square CEO Jack Dorsey has once again reiterated that Bitcoin and Blockchain technology is the future of his micro-blogging platform to keep it more secure from hackers.

Dorsey last year announced a non-profit platform called Bluesky to develop an open and decentralised standard for social media.

“Blockchain and Bitcoin point to a future, point to a world, where content exists forever. We’re not in the content hosting business anymore, we’re in the discovery business,” the Square CEO said during the virtual Oslo Freedom Forum 2020 last Friday.

Dorsey expects Blue Sky to create an open Twitter protocol, which users can contribute to and access data from instead of a centralized service where the social media platform hosts content on its website.

“(Blue Sky) is a completely separate nonprofit from the company (Twitter),” Dorsey said.

“We’ll focus on becoming a client of it so we can build a compelling service and business where anyone can access and anyone can contribute.” “You see this most fundamentally in bitcoin and in blockchain. The keys will be more and more in the hands of the individual,” he added.

Oslo Freedom Forum is “a series of global conferences run by the New York-based non-profit Human Rights Foundation (HRF).

Dorsey said: “I fundamentally believe that security is something that can never be perfected… it’s a constant race, it’s a constant push to be 10 steps ahead of hackers”.

“The whole spirit of Bitcoin, for instance, is to provide a trusted system in a distrusted environment, which is the internet, and those technologies will provide us new capabilities where we can do this internally as well and provide a lot more peace of mind”.

Dorsey has made absolutely no secret of his love for cryptocurrency over the years.

Twitter is also

Blockchain technology is future of Twitter: Jack Dorsey

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(MENAFN – IANS)

San Francisco, Sep 28 (IANS) Twitter and Square CEO Jack Dorsey has once again reiterated that Bitcoin and Blockchain technology is the future of his micro-blogging platform to keep it more secure from hackers.

Dorsey last year announced a non-profit platform called Bluesky to develop an open and decentralized standard for social media.

“Blockchain and Bitcoin point to a future, point to a world, where content exists forever. We’re not in the content hosting business anymore, we’re in the discovery business,” the Square CEO said during the virtual Oslo Freedom Forum 2020 last Friday.

Dorsey expects Blue Sky to create an open Twitter protocol, which users can contribute to and access data from instead of a centralized service where the social media platform hosts content on its website.

“(Blue Sky) is a completely separate nonprofit from the company (Twitter),” Dorsey said.

“We’ll focus on becoming a client of it so we can build a compelling service and business where anyone can access and anyone can contribute.”

“You see this most fundamentally in bitcoin and in blockchain. The keys will be more and more in the hands of the individual,” he added.

Oslo Freedom Forum is “a series of global conferences run by the New York-based non-profit Human Rights Foundation (HRF).

Dorsey said: “I fundamentally believe that security is something that can never be perfected… it’s a constant race, it’s a constant push to be 10 steps ahead of hackers”.

“The whole spirit of Bitcoin, for instance, is to provide a trusted system in a distrusted environment, which is the internet, and those technologies will provide us new capabilities where we can do this internally as well and provide a lot more peace of mind”.

Dorsey has made absolutely no secret of his love for cryptocurrency over the