In an important conference, the CEO of Square, Jack Dorsey declares that his opinion is that until 2028 everyone will pay with Bitcoin in the online transactions.

Jack Dorsey thinks that Bitcoin will become the unique crypto that will be used in the digital payments on the Internet.

Dorsey, the CEO of Twitter, apart the CEO of Square, hold an interview this week for The Times. He declared that Bitcoin has potential and it will develop in order to sustain the purchases with it and more and more people will chose to use it in the online space.

The comments of Dorsey about Bitcoin’s online payments were during a visit to London when promoting Square

The future of online transactions

In that conference to The Times, Dorsey stays clear that the cryptos built on ledgers or blockchains, will have an important development in the future years.

To The Times, he declared:

“The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin. This would happen probably over ten years, but it could go faster.”

 

Personal motivations

Dorsey reportedly said:

“[Processing Bitcoin transactions] is slow and it’s costly, but as more and more people have it, those things go away. There are newer technologies that build off of blockchain and make it more approachable.”

Positioning Square

Dorsey has reported about Square that it has expanded its Cash App the users can pay with their phones through.

It is estimated that ultimately this Cash App is used by seven million users.

When Square reported its earnings for the fourth quarter earlier this year, Dorsey said:

“We currently benefit a lot from our partnership model with cash and through [the] register. So we will continue to amplify that. Bitcoin for us is not stopping at buying and selling. We do believe that this is a transformational technology for our industry and we’re going to learn as quickly as possible.”