Twitter and Square CEO Jack Dorsey on the Bitcoin Lightning Network

Siamak Masnavi

In an interview on Episode 52 of the Stephan Livera Podcast (SLP), which was released on Monday (February 11th), Livera interviewed Jack Dorsey, the CEO of FinTech company Square and social media company Twitter, and Elizabeth Stark, the CEO of blockchain startup Lightning Labs.

Why was Livera interviewing Dorsey and Stark at the same time? Well, that's because on February 5th Dorsey had passed the Lightning Torch to Stark:

And after seeing this, Livera invited both to his podcast. For the purposes of this article, we focus on some of the more interesting comments made by Dorsey about Bitcoin (BTC), the Bitcoin Lightning Network, the Cash App, and Twitter:

Why the Focus on Bitcoin and Not the Other Cryptocurrencies

"Most of it is just due to the principles that created it, the community around it, the ideals that it fosters, the brand, but there's an element of practicality to it as well... I think there's interesting ideas elsewhere, but I think those ideas can be integrated into Bitcoin if they have the merit that is above some bar, and it feels like the one that wants to be the currency the most vs. others that are doing more general-purpose things."

Use of Lightning Within the Cash App

"We've been exploring with Elizabeth and the Lightning team... Broadly, we have this massive seller network of small, medium, and large businesses... and we would love to make it as fast and efficient and transactional as possible, and that includes looking at our seller base and our register... You know, it's not 'if', it's more of a 'when'... How do we make sure that we are getting the speed that we need and the efficiency?... From a merchant perspective, and that's something we really need to get right."

Chances of Individuals One Day Managing Their Own Private Keys Within the Cash App

"Yeah, I mean, the thing we love about the Bitcoin community is the openness and the amount of control it gives one. So, anything we can do to increase that, we are definitely going to look at. It's just a question of... we continue to ensure privacy and security and also ease of use. The more controls we put in front of someone, the more complicated it could become. So, if we can derive an experience that could keep that simple, [then] absolutely."

Integration of Bitcoin and Lightning Within Twitter (Especially for Tipping)

"I think there's a lot there... It's really compelling and something we want to spend a lot more time on... We finally have these technologies, more broadly at the blockchain level, that I think can help us address some of the challenges we are facing with Twitter, including trust and identity, certainly providing more economic incentive rather than what Twitter provides today, which is reach. So, it is a pretty active conversation within the company an around the company. We want to be smart about it and make sure we are building something that feels really simple and accessible and is timed in the right way, but it's definitely something that I'd be excited about and would love to see."

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