Twitter co-founder and Block CEO Jack Dorsey spoke with US congressional candidate Aarika Rhodes about the Bitcoin-backed Universal Basic Income (UBI) strategy.
CEO’s Start Small initiative in some countries to experiment on universal basic income from $55 million invested too much.
Dorsey stated that there are deficiencies in the currently used financial system, and that it causes financial difficulties for people. Also, “Everything is transparent in Bitcoin.” said.
Stating that they are trying to create a UBI-style system in Bitcoin, Dorsey said that in the beginning, it was compatible with Bitcoin standards. on a small scale He said it would include people who trade. However, later according to the request for participation widely intended use.
Aarika Rhodes said that incorporating Bitcoin into the financial system is the banking sector. to reduce the cost of transaction fees He said he believed.
Advising Bitcoin adoption and long-term thinking, Dorsey said that doubts about Bitcoin-backed universal basic income when test results are announced He said he thought it would decrease.
Saying that he will be cautious about the negative effects as well as the benefits that come with Bitcoin, the CEO said at the end of the speech. government policies are inadequate and inefficient. he talked about it.