Jack Dorsey hopes bitcoin can bring world peace

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Twitter i Square CEO Jack Dorsey has been that for a long time . In fact, he is so optimistic about the cryptocurrency, he believes it could bring a calmer planet. The billionaire suggested that bitcoin could help address financial inequalities and allow humanity to concentrate on larger issues.

“I hope it creates world peace or helps create world peace,” Dorsey said. “We have all these monopolies out of balance, and the individual has no power, and the amount of cost and distraction that comes from our monetary system today is real and takes away attention from bigger problems.”

“All of these distractions that we have to deal with on a daily basis are taking away larger goals that affect every single person on the planet, and more and more,” he said. notes. “Fix that fundamental level and everything above it is improving in such a dramatic way. It will be long-term, but my hope is certainly peace.”

He made comments during the panel at a virtual event called The B Word. Tesla CEO and Elon Musk and Cathie Wood, CEO of Square ARK Invest shareholders, also participated in the discussion.

Dorsey its belief that bitcoin will become a planetary “single currency” within a decade. Earlier this month, to make a hardware wallet for bitcoin. Dorsey also said last week that the company is building a business with “decentralized financial services” aimed at replicating monetary systems such as banks and exchanging with cryptocurrency.

There are a number of barriers between the current state of cryptography and its potential leading to world peace, such as unreliable internet access in many regions. The energy consumption required for bitcoin mining and transaction processing is also contrary to Dorsey’s vision, given that the impact of many cryptocurrencies on the environment.

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