While Facebook, Binance and even China have developed or are in the process of creating their own stablecoins of some sort – Twitter CEO Jack Dorsey has dismissed the possibility of them following suit. Although being a long-term advocate of Bitcoin, there are no plans for the social media platform to delve into the space any time soon.
Dorsey commented recently that the open nature of Bitcoin is it’s major strength and this will place it in a healthy position for years to come.:
“I think open Internet standards serve every person better than ones controlled or started by companies.”
It is almost ironic that the CEO of one of the major social media platforms openly welcomes such a potentially disruptive technology. However, what is clear to see is that Jack has a clear vision for the present and future standing of Twiter, which supports cryptocurrency, without getting creating one.