Twitter and Square CEO Jack Dorsey made it clear that Twitter will never join Facebook's Libra project.
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"Libra does not have to be a cryptocurrency"
On October 24th, Hollywood Reporter editor Alex Weprin reported in an event at the Twitter New York office that Jack Dorsey made it clear that Twitter and Facebook wanted The plan to launch Libra Stabilization Coin in 2020 is one million miles away.
According to reports, the CEO of Twitter directly answered the question, whether Twitter will consider joining the Facebook Libra project. His answer is short, but it is very illustrative: "No." He added:
“Everything in Libra doesn't have to be a cryptocurrency to do what they want.”
In response to Facebook CEO Mark Zuckerberg's speech at Georgetown University, Dorsey said that many of Zuckerberg's remarks seem to stem from American tradition. Zuckerberg’s speech focused on the role of freedom of expression, censorship and technology platforms in democracy. The speech also criticized China's way of technological development. Dorsey said: "I am worried that if we entangle this concept too much, we will lose the ability to experiment and expand," he explained:
"We not only serve the American audience, we are still serving the global audience. The Internet is a bit like an emerging nation state.
Bitcoin is the best choice
Dorsey said in September that he would not follow the example of Facebook Libra and would not release a cryptocurrency specifically for Twitter. Dorsey said he prefers to use existing open standards such as Bitcoin (BTC):
"I think [Bitcoin] is the best choice because it has the highest flexibility, it has been around for 10 years, it has a great brand, and it has been tested a lot. […] When I see all that can be played When the cryptocurrency of the Internet local currency is [bitcoin], the probability is very high."
