Twitter CEO Jack Dorsey Relies On Bitcoin To Bring World Peace.

Shortly after starting a new Bitcoin business with SquareTwitter and Square CEO Jack Dorsey, he hoped Bitcoin would bring "world peace."

During a Bitcoin webinar on Wednesday, cryptocurrency advocates expressed hope that Bitcoin will create a better future. "I hope this creates or helps create world peace," he said. "We own all of these monopolies, and individuals have no power, and the amount of spending and distraction our monetary system emits today is real and lessens a bigger problem."

Explaining how a more balanced economic and monetary system would help us focus on more significant issues, Dorsey said, "All the distractions we face daily are taking us away from the larger goals that affect every human being that concerns the planet and more. . You improve on that base level, and everything beyond it improves in dramatic ways. It will be long term, but my hope is peace."

Dorsey's new comments come shortly after his company Square announced a new bitcoin business called TBD. Elsewhere in technology, news that Elon Musk owns Bitcoin has pumped up the crypto market.

Jack Dorsey, CEO of Twitter and Square, has long been a bitcoin fan. He is so optimistic about cryptocurrencies that he believes they could lead to a calmer planet. The billionaire suggested that Bitcoin could help address financial inequality and allow humanity to focus on more significant issues.

"I hope this creates or helps create world peace," Dorsey said. "We own all of these monopolies, and individuals have no power, and the amount of spending and distraction our monetary system emits today is real and lessens a bigger problem."

"All the distractions we face every day are diminishing from a larger purpose that affects everyone on the planet and is increasing," he said, as noted by CNBC. It will be long-term, but my hope is peace. "

He commented during a panel entitled "Bitcoin as a Tool for Economic Strengthening" at a virtual conference called The B Word. Tesla CEO and crypto market engine Elon Musk and Cathy Wood, CEO of Square Stakeholder ARK Invest, also took part in the discussion.

Dorsey spoke in 2018 about his belief that bitcoin would be the planet's "single currency" within a decade. Earlier this month, Square confirmed plans to create a hardware portfolio for bitcoin. Last week, Dorsey said that the company would have a "decentralized" financial services business that aims to emulate monetary systems such as banks and cryptocurrency exchanges.