The whole of the internet was abuzz yesterday with the news of the resignation of Jack Dorsey as the CEO of Twitter to make way for some young blood to take the company forward and for him to focus on other things of interest.
What was not missed to be noticed is the fact that he continues to be the CEO of the largely successful payments company Square and also the fact that both this company as well as Jack have been known supporters of bitcoin and cryptos in general. Jack’s love for bitcoin is not new as he has long maintained that he would love to be in bitcoin if he was not part of Twitter or Square and his love for decentralization has been known for quite some time to all those who have been following him. Even Twitter can be said to be a kind of decentralized platform where each user sits in his own space and is fully free to have space to express their thoughts. Jack had also been working on a standardized protocol for users to stay in touch with each other across the different social media platforms,
His love for decentralization seems to have naturally drawn him towards bitcoin and blockchain and it is expected that he would begin to delve deeper into this space in the coming months now that he has more time on his hands to try to put his passion. Square had already expressed its interest to get into bitcoin mining and change the way things are done in the industry and it remains to be seen what changes and innovation would be brought into bitcoin mining by the company. This would be a big boost to the industry in general as more focus from talented individuals with large funding in hand would only lead to more innovations which would, in turn, draw in even more talent in the future.
So, overall, this move from Jack is expected to benefit the crypto industry in the long run which should be a boost for the crypto prices in the short term. We will have to wait and see what kind of moves that he makes and what kind of innovation that he would be looking to bring in during the coming months which should help the industry as a whole.
