At a packed conference in Miami in June, Jack Dorsey he reflected in front of thousands of attendees on where his true passion lay: “If I weren’t at Square or on Twitter, I’d be working with bitcoin.”
On Monday (29), Dorsey announced that it will be leaving the Twitter for the second time, passing the position of CEO to a veteran of the company.
The 45-year-old businessman, whose interests range from meditation to yoga and fashion design, plans to pursue his passion, which includes focusing on managing the fintech Square and do more philanthropic work, according to a source familiar with the matter.
Underlying Dorsey’s broader vision is the principle of “decentralization,” or the idea that technology and finance should not be concentrated among a handful of gatekeepers, but should be directed by the hands of many.
This idea also served as the basis for appointing the company’s new head, Parag Agrawal, to oversee a team trying to set up a decentralized social media protocol, which will allow different social platforms to connect to each other, similar to the way providers do. operating system.
The project, called Bluesky, will aim to allow users control over the types of content viewed online, removing the burden on companies such as Twitter to enforce a global policy against abuse or misleading information, Dorsey said in 2019, when he announced the project.
In August, Square created a new business unit called TBD to focus on bitcoin. The company is also planning to build a hardware portfolio for bitcoin, a system of mining and decentralized exchanges.
“The blockchain platform they’re trying to develop is great, but it’s also fraught with technical challenges and difficult for consumers to scale. I think he will focus more on Square and cryptocurrencies will be part of that,” said Christopher Brendler, an analyst at DA Davidson.
Reference: CNN Brasil
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