Twitter CEO: Bitcoin and blockchain are an example of the transfer of control into the hands of individuals

Jack Dorsey, taking the position of Twitter and Square CEO, spoke Friday at the Oslo Freedom Forum virtual event, where he called blockchain the future of the microblogging platform he runs.

“Blockchain and Bitcoin point to the future, to a world where content has been around forever. We are already in the business of not posting content, but disclosing it. The whole spirit of bitcoin, for example, is to provide a trusted system in an untrusted environment like the internet”, he said.

Twitter-launched Blue Sky, a nonprofit organization, will create an open protocol for the platform that users can participate in, Dorsey said. It will become an alternative to a centralized service, within which the company independently posts content on the site.

“Blue Sky is a completely separate non-profit organization from Twitter. We intend to become her client to create an engaging service and business where anyone can access and contribute”, Dorsey added.

Speaking on the transition from centralized organizations to distributed structures, the CEO of Twitter commented: “At the most fundamental level, you see this in Bitcoin and blockchain. More and more keys will move into the hands of private individuals.”

In July, Twitter came under attack when a 17-year-old hacker began posting fraudulent offers to give away cryptocurrency using celebrity accounts. “Safety is not a matter of excellence. It’s a constant job to stay 10 steps ahead of attackers. The more we share the keys with private individuals, the higher the security,” said Dorsey.

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