Twitter and Square Chief Executive Officer, Jack Dorsey is no less than an influential personality on the internet. Although there are always controversies revolving around Twitter, Dorsey never takes the vision of his companies for granted. Dorsey has been a Bitcoin and cryptocurrency enthusiast for the longest time and in his latest comments, he hoped that cryptocurrency would bring world peace someday in the future. He portrayed his belief that this new financial technology could help about a more peaceful planet. Is that even possible?
Well, according to Dorsey, it is possible and it is the best that he hopes for the world. The billionaire Twitter CEO suggests that bitcoin can address the financial inequalities of the world, as mentioned in a report by Engadget, and allow humanity to concentrate on bigger problems, other than money.
Is money everything to humans? Is money the biggest distraction to people of this world? Is money responsible for us humans, to not have world peace?
However way we put the answers to these questions, this is the sad truth of life. Human is inherently driven by the want of money and everyone in this world is running after it. There is no stopping! Money has grown to become our primary reason for existence and this blinds other issues that humanity might be dealing with. Jack Dorsey says that Bitcoin and cryptocurrency could bring financial stability and equality, hoping that it would allow people to lift their heads up and focus on the bigger issues of life.
“My hope is that it creates world peace or helps create world peace,” says Dorsey. He further mentions that with all these monopolies going off balance and the individual not having power, and the amount of cost and distraction that comes from the existing monetary system today is a real deal and it takes away attention from the bigger problems and affects every person on the planet and this phenomenon is increasing by the day, according to a report by CNBC.
Dorsey further added that you fix the problem at the foundational level and everything above it will improve dramatically. The process is going to be long terms but his hope is definitely world peace.
As mentioned in a report by Engadget, Dorsey made these comments on a panel discussing “Bitcoin as a tool for economic empowerment”.
Anyhow, bitcoin isn’t that easy to bring world peace because the current scenario in the market does not support what Dorsey says. Cryptocurrency mining impacts the environment negatively as bitcoin mining consumes abundant amounts of power. Moreover, the lack of a stable internet connection in many parts of the world could result in financial inequalities, something that goes opposing to what Dorsey is endorsing.
Jack Dorsey has the vision for the long-term success of cryptocurrency and bitcoin but in its existing current state, there is a lot that humanity needs to do in order to make things work for revolutionizing the world’s financial system.