Is it destined to become online currency? At least one famous businessman - Jack Dorsey, CEO of Square and Twitter, who previously predicted the dominance of bitcoin in the future - hopes that this is so.

Dorsey sat down with Elizabeth Stark of Lightning Labs at the Consensus 2018 conference in New York City to talk more broadly about the company's goals for the digital currency.

"I just approach the principle that the Internet deserves its currency, it will have its own currency. I do not know if it will be bitcoin, "Dorsey said on Wednesday at the conference, adding:

I hope this will be bitcoin, I'm his huge fan.

Dorsey admits that bitcoin will someday become the basis for all payments on the Internet, which remains the subject of his statements for the first time.

"We talk about this, but there is still a lot of skepticism, a lot of controversy and a lot of controversial discussions. But the magic is created where creativity exists, "he explained.

Despite the contradictions, Dorsey argues that the open access vision that bitcoin inspires is fundamental to the role that Square has always played in the payments industry. "Any payment that falls on our business, the seller should be able to accept," he said.

When Dorsey first began to reflect on how to implement bitcoin payments on the Square platform with Mike Brock, the company's engineer, they both originally relied on a goal that was grandiose in its simplicity.

One of them, he argued, was to go across the street and buy a cup of coffee for bitcoins without a transaction that looked different than a normal dollar payment, perhaps without a cashier, assuming the use of bitcoin. According to Dorsey, the team matured working decision within a week.

"It was amazing, it was amazing, and felt like something that we needed to investigate much more seriously," he said.

A lot of work

Square has not yet created a full-fledged solution using bitcoins for sellers and consumers, as the company quickly changed its focus on the provision of buying and selling services that will be integrated into the Cash application. But Dorsey said that the goal remained unchanged.

Dorsey said:

We want to return to this original idea of ​​buying coffee for bitcoins. That's why we work with Lightning Labs. Whatever it was, we are confident that this will happen.

Dorsey, who considers himself a fan of hacking disposition associated with the ascent of bitcoin to fame, claimed that, no matter what the road, in order to promote the mass adoption of bitcoin payments, he would do so, without means threatening the openness of the network.

"There is so much openness in the community, and I want to make sure that nothing in the corporate world threatens this area of ​​work," he continued, "we can not risk that which made it possible for the beginning ... We can not do it this is without the technology being strong and accessible to all. "