Twitter’s former CEO Jack Dorseystated that Facebook’s unfortunate Diem project was a waste of time and effort.
CEO of Microstrategy Michael SaylorIn an interview with , Dorsey said that Facebook should focus on Bitcoin and how to bring it to the masses, rather than creating its own cryptocurrency.
Since leaving Twitter a few months ago, Jack has worked with another company he co-founded and served as CEO. blockHe focused on Formerly known as Square, the payments company is spearheading efforts to make Bitcoin more accessible via Cash App. Dorsey, social media pioneer Mark ZuckerbergHe claims that he should do the same.
Jack made his remarks clear, saying that Zuckerberg could have done much more for humanity if he had focused on Bitcoin in Diem. Facebook probably for the right reasons diem(formerly Libra) believes they lost their ability to deal with the project along the way.
“Everything about Libra and then Diem, I think there’s a lot of lessons there. I hope they learned a lot, but I think a lot of effort and time wasted.”
Facebook recently admitted defeat on the Diem project after years of frustration by regulators in the US. Company, silvergate He was working on a partnership that would allow the California bank to issue Diem because it was a regulated financial institution with the Federal Reserve, but even that was blocked by the Federal Reserve.
Facebook should have focused on Bitcoin
Jack at every opportunity bitcoin He clearly states that he is a maximalist. In these last statements, he claimed that Zuckerberg should be like that too. Jack said that instead of reinventing the wheel with a new crypto, Facebook should focus all its efforts on Bitcoin.
“That two or three years, or how long, could have been spent making Bitcoin more accessible to more people around the world.”
According to Jack, Bitcoin has proven that it can bring a fairer future where everyone has the opportunity to heal themselves. Therefore Facebookshould have used its status and network influence to benefit the 2.8 billion people who use the social media platform.
“We have this open network right now. And it can be used. Not accessible to everyone, but usable. The easier, the faster we do it, the more accessible we make it, the better everything will be.”