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Billionaire Jack Dorsey Drums Up Support For Bitcoin Use Worldwide

The fourth annual consensus 2018 conference took place in New York City in the latter half of May 2018. The consensus is an annual event said to be ‘the world’s biggest Bitcoin conference.’ It is a boiling point where the big names and players alike in the industry meet. Enthusiasts, investors, online casino owners and bookmakers among others in the sector thronged together for the three day event.

This event is popular amongst the masses as well, attracting over thousands of participants yearly with a consistent upward increase by the years. This year, the event attracted 8,500 attendees highlighted by the big hitters in the cryptocurrency space.  Among them was billionaire Jack Dorsey. The Square and Twitter CEO sat with Lighting labs’ CEO Elizabeth Stark for the much anticipated headline talk. He reaffirmed his support for bitcoin and went ahead to state that cryptocurrencies should be adopted as global means of payment.

This comes in sharp contrast with the opinions of other investment bigwigs who have been on record discrediting cryptos. The industry giant Warren Buffett was caught trashing cryptocurrencies and bitcoin saying they have zero value. Dorsey’s remarks come as a relief for enthusiasts in all the spheres that operate on cryptocurrencies.  The value of digital currencies such as bitcoin directly dictates and influences trading. This relationship between the two keeps investors and other stakeholders on the lookout for industry influencers. Their actions and words affect digital currencies either positively or negatively and in real-time.

Online based gaming such as bitcoin gambling and casinos rely on cryptocurrencies to run effectively. Dorsey’s endorsement of bitcoin will only strengthen bitcoin gambling into the future because it validates the main form of currency on all online casino platforms.

Dorsey however is calling for a further influence of bitcoins to be regulated and adopted by world powers. If governments continue to adopt bitcoin as a global means of payment, such as seen with newly established laws in Antigua and Barbuda, then their regulation policies will be equal across the board. As opposed to the current wave that seems to try to restrict and reduce crypto use, governments will then have to work towards expansion and making policies favorable to cryptocurrencies.

Jack Dorsey of course is not singling out any super powers, because that would hurt his own business. All he is doing is expressing his love for bitcoin. Not all world leaders feel the same as seen with China, where tough checks on bitcoin have been implemented by the government.

‘The internet has grown into a community on its own. People around the globe carry out tons of transactions every day so an internet currency is needed. It might not be bitcoin in itself but the acceptance of a global digital currency is just a matter of time,” Dorsey said.

Dorsey’s Square was the first mainstream financial service provider entity to accept bitcoin four years back in 2014. Square is being used as a primary bank account by a notable number of people and provides an easy option for making payments.

Other outstanding revelations at the consensus came from HTC. HTC is set to release a mobile phone powered by blockchain. It will feature a built in software and universal wallet to support cryptocurrencies alongside decentralized apps. These native blockchain phones will facilitate crypto trading taking it to entirely new levels. This will definitely be a hot gadget amongst online gamblers as it comes with improved privacy since it will not depend on cloud storage.

The conference which had over 250 speakers was organized by research and media company CoinDesk together with New York City’s nonprofit Economic Development Corporation. Another key speaker who took the stage was the president of St. Louis Federal Reserve Bank James Bullard. Also speaking on the same day was European parlianment member Eva Kaili. New York City is projected as a ‘rising hub’ for blockchain jobs.

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