The dual CEO and co-founder of both Twitter and Square has made no secret to where he stands when it comes to the Facebook-backed cryptocurrency.
Jack Dorsey did not mince the words when he was asked whether or not Twitter would ever join the Libra Association, the organization behind Libra.
“Hell no,” he said, according to The Verge, adding that he was not convinced that this was the best way to close the financial access gap between the have and the have-nots of the world.
That has been the stated goal of Libra since the project was announced in June this year.
Mark Zuckerberg, CEO and founder of Facebook, reiterated this reason for why Libra is important this week when he gave his testimony to the United States House of Representatives Committee on Financial Services.
Facebook is a member of the Libra Association and is spearheading the drive/
However, Dorsey was not convinced. “I don’t know if it’s a gimmick, but a cryptocurrency wasn’t necessary to make that work,” he said.
“It’s not an internet open standard that was born on the internet,” Dorsey said. “It was born out of a company’s intention, and it’s not consistent with what I personally believe and what I want our company to stand for.”
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