Square CEO, Twitter founder, and long-time Bitcoin advocate Jack Dorsey has high hopes cryptocurrency will help bring about world peace.
“My hope is that it creates world peace or helps create world peace,” he said during a “The B Word” conference on Wednesday. Tesla CEO Elon Musk and ARK Invest founder Cathie Wood were also speakers on the panel.
“We have all these monopolies of balance, and the individual doesn’t have power and the amount of cost, and distraction that comes from our monetary system today is real, and it takes away attention from the bigger problems,” Dorsey added.
“All these distractions that we have to deal with on a daily basis take away from those bigger goals that affect every single person on this planet and increasingly so. You fix that foundational level, and everything above it improves in such a dramatic way. It’s going to be long-term, but my hope is definitely peace,” he said.
Last Thursday, Dorsey announced on Twitter that Square is creating a new business focused on decentralized financial services (DeFi) using Bitcoin. He said that the company is “focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services.”