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For his recent actions, former Twitter CEO Jack Dorsey seems to turn towards bitcoin; take the forming Block for a prime example of such.
It’s been clear that Jack Dorsey changed his course towards cryptocurrencies when Twitter co-founder and former CEO quit the social media giant and transitioned to his another co-founded firm Block, formerly known as Square. Since the payment firm Block is focused on flagship cryptocurrency, bitcoin, CEO Jack Doresy has developed a reputation and being known as a so-called bitcoin maximalist. Alongwith showing his support for the top most cryptocurrency, he has been seen to trash other top crypto like Ethereum, etc. regularly.
No doubt the former Chief executive officer of Twitter has been one of the hard core supporters and defenders of bitcoin while being harshest critics of other cryptocurrencies including Ethereum. Now this time, Jack Dorsey made a stinging attack on Ethereum again while putting a warning that the blockchain network has many single points of failure and he even called projects based on the network as not interesting.
However the price of Ethereum swayed so wildly over the time of the past year but still it rose by about 30% in comparison to what it was last year. This growth leaves other major cryptocurrencies including bitcoin in the dust despite the fact that the far anticipated Ethereum upgrade was delayed again.
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In response of a post from a crypto based social network Deso, formerly known as BitClout, Jack Dorsey said on Twitter that if you are building something on Ethereum network than possibly you have at least one if not many, single point of failure and this is the reason that it does not seem interesting to him.
In a Twitter thread earlier, Block CEO said that he does not believe that any individual or institutions should have their own social media or more specifically media companies in general and they should be based on open and verifiable protocol.
But from where this recent debate got sparked? Well it rose when an ethereum co-founder, Vitalik Buterin in his Tweet expressed his concern about the recent attempt of Tesla CEO and multi billionaire entrepreneur, Elon Musk to take over Twitter. Etheruem co-founder posted to not oppose the idea of Etheruem running Twitter while adding that he did not like the notion of social media companies being run by wealthy people, organizations or governments. In response to the post Doresy replied ‘Same.’
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
