Jack Dorsey, the CEO of two well-known companies – Square and Twitter – reportedly sees a future for Bitcoin, and it is in a country with a developing economy and that boasts 1.2 billion people: Africa.
Dorsey shared on Twitter that he has been in Africa and is sad to leave the continent – for now. More significantly though, he also tweeted that the country will “define the future (especially the bitcoin one!).”
In addition, he tweeted that he will be living there for 3 to 6 months in the middle of 2020 and that he is grateful that he was able to experience a small part.
Sad to be leaving the continent…for now. Africa will define the future (especially the bitcoin one!). Not sure where yet, but I’ll be living here for 3-6 months mid 2020. Grateful I was able to experience a small part. 🌍 pic.twitter.com/9VqgbhCXWd
— jack 🌍🌏🌎 (@jack) November 27, 2019
CNN reported that Dorsey’s trip began on November 8 when he visited Ethiopia. The tour included stops in South Africa, Nigeria, and Ghana.
The report also indicated that Dorsey met artists and entrepreneurs, and Ngozi Okonjo-Iweala, a Twitter board member, economist, and former managing director of the World Bank. During Dorsey’s visit to Ghana, he reportedly met with bitcoin entrepreneurs.
These developments are perhaps part of the process of turning bitcoin into a more functional currency by increasing its accessibility. According to a report by CNBC in September, Dorsey shared with the Australian Finance Review that bitcoin is “not functional as a currency.”
And what needs to be done is to make the currency more usable and accessible. Nonetheless, the report also indicated that Dorsey supports bitcoin and the broader idea of an internet-based currency.
For instance, according to the report, Dorsey shared with the Australian Financial Review that his company Square is hiring five engineers who will solely work on making the crypto ecosystem better, and that he believes that the internet will have a “native currency” and anything that the company can do to make that happen, it’ll do.
Dorsey also tweeted in February 2019 that he only has Bitcoin, and in response to another tweet in that thread, he called Bitcoin “resilient,” “principled,” and “native to internet ideals.”
I only have bitcoin https://t.co/C24xNJxuFB
— jack 🌍🌏🌎 (@jack) February 5, 2019