With all the rage about cryptocurrency, particularly Bitcoin, it is no wonder that more and more people believe in its potential. And for Twitter CEO Jack Dorsey, Bitcoin could soon become the only currency the world will ever use.
During his interview with The Times on Wednesday, Dorsey said he believes the cryptocurrency will become the primary currency used globally for payments. He envisions this to happen in 10 years but he believes the transition could happen sooner than that.
Twitter CEO Jack Dorsey is a bitcoin investor himself.
He is also the CEO of Square, a financial service and mobile payment company.
Dorsey believes bitcoin will take over world finance in 10 years or less.
The 41-year-old Internet entrepreneur, in his interview, was quoted as saying:
“The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin.”
Dorsey admitted that Bitcoin is not that effective as a currency at the moment. But he aims to fix problems found in the cryptocurrency, such as slow processing times and variable processing fees. The computer programmer also believes that there will be new solutions to address these problems.
“As more and more people have it, those things go away. There are newer technologies that build off of blockchain and make it more approachable.”
The way it stands today, however, Bitcoin is not considered a currency by U.S. regulators. For some investors of cryptocurrency, like businessman Mark Cuban, Bitcoin is more of a collectible. Others, like Goldman Sachs head of Global Investment Research Steve Strongin, believe that while digital currencies have a potential to stay longer, Bitcoin won’t be one of them.
Strongin said in February:
“Ultimately, I think new cryptocurrencies will emerge but of course time will tell.”
Ancient 99-Million-Year-Old Frogs Look Just Like Modern-Day Toads
Frogs will always be frogs, whether they were born today or in the Cretaceous Period.
The world is filled with exciting new discoveries from ancient times. Scientists have just uncovered evidence that frogs roamed the Earth during the Cretaceous Period about 100 million years ago. Interestingly, these ancient toads seem to look just like their modern-day descendants.
A new report confirms that scientists have found four frog fossils in northern Myanmar. The tiny bodies were encased in amber and offer a clear glimpse at what tropical rainforests looked like in the Cretaceous Period. In any case, the discovery is groundbreaking since frogs rarely become fossils....
Elon Musk’s Flamethrowers Get Misused On Social Media Despite Strict Terms & Conditions
What better way to start a particularly hot summer?
There is little doubt that Elon Musk's flamethrowers are the hottest new commodity right now. After all, the fiery device produced by The Boring Company have just been sold out. However, it looks like consumers have already started misusing the dangerous product despite its lengthy terms and conditions.
The Boring Company finally rolled out Not A Flamethrower at a celebrated pick up event held at the company's headquarters. People who had pre-ordered the gadgets were given a chance to sample the power of the flamethrower on unfortunate marshmallows. Although safety was reinforced during the event, things took a dangerous turn once everyone got home....
NASA’s Curiosity Rover Finds Ancient Organics On Mars, Possible Life On Planet In The Past
The new discovery might confirm life thrived on the Red Planet billions of years ago.
Curiosity has made an exciting discovery on the surface of Mars. The rover has just found possible evidence of life on the planet billions of years ago. NASA might not quite ready to confirm that creatures once roamed the Red Planet. Nevertheless, the agency believes that the findings could mean positive things for future missions.
The NASA rover has found organic molecules in sedimentary rocks near the planet's surface. These molecules may contain hydroxen, carbon, oxygen, and nitrogen and are usually associated with life. However, their presence in the billion-year-old rocks does not confirm life on Mars just yet....