Twitter Official Bitcoin Payment Project

Twitter boss Jack Dorsey has replaced Elon Musk as the billionaire winner in the cryptocurrency scene, such as Bitcoin.

Jack Dorsey Twitter Official Bitcoin Payment Project
Photos by CNBC

This is because Jack Dorsey who is a bitcoin proponent, has revealed that it is "only a matter of time" before Twitter or its decentralized social network project, Bluesky, integrates bitcoin payments.

"It's only a matter of time to build a lightning network bitcoin [bitcoin lightning network] to BlueSky or Twitter," said Dorsey as quoted by Forbes in Jakarta, Monday (14/6/21).

The lightning network allows bitcoins to be sent via a payment protocol built on top of the bitcoin blockchain. 

They are also designed to help networks scale, reduce costs, and speed up transactions.

Interest in this lightning network has gotten a boost thanks to news that El Salvador will use it to facilitate bitcoin spending online and in person, now bitcoin is its official currency along with the US dollar.

Dorsey is a devoted Bitcoin fan. He said if he wasn't on Twitter or Square, he would be working on bitcoin. 

In fact, Dorsey mentions that Bitcoin will eventually be more powerful than banks.

Dorsey has repeatedly endorsed bitcoin over the past few years, claiming bitcoin has the potential to become the world's sole currency by 2030 in a 2018 interview with the Times of London newspaper.

Last week, Musk appeared to be distancing himself from bitcoin even more after canceling Tesla's bitcoin endorsement due to his assessment of environmental concerns.

WE Online, Jakarta