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Twitter and Square CEO Jack Dorsey believes the dollar, euro and yen may soon be ditched in favor of a single digital currency around the globe -- and that may be bitcoin. In an interview with the British newspaper The Times of London, Dorsey shared his belief that twitter founder bitcoin to become the worlds single currency in 10 world may adopt a single global currency "probably over 10 years, but it could go faster.
The current price is less than half of its historic peak on Dec. Dorsey has been backing startups in the bitcoin space. Last week, Dorsey was announced as an investor in a Bay Area startup called Lightning Labs, which seeks to make bitcoin transactions faster and easier by replacing the costly and time-consuming process of recording every transaction on the blockchain, a publicly viewable ledger verified by a network of thousands of computers.
Dorsey believes the slow nature of recording bitcoin transactions on blockchain makes it ineffective -- but believes there will be change soon to fix that. Square, the mobile payments company Dorsey founded, expanded its feature of buying and selling bitcoin through its Cash app after a test trial last December. Meanwhile, Twitter twitter founder bitcoin to become the worlds single currency in 10 taking a harder stance on cryptocurrencies, not including bitcoin.
Twitter announced earlier this month it will start banning many kinds of cryptocurrency ads, according to Sky News.
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