A digital currency like Bitcoin takes away the grind of having to navigate the different regulatory onboarding environment of local banks, believes Twitter founder Jack Dorsey.
Deploying a digital currency, one can “potentially launch a product in every single market around the world”, the American billionaire said in a recent interview.
“A global currency which a native currency for the internet is a proxy for, is a very powerful concept and I don’t think any one person on this planet truly understands the ramifications of that. I think there are a lot of positives to it,” he said, adding that there were “positive ramifications outside of money as well”.
He explained that digital currency helped both in terms of moving money across borders without corruption as well made it easier to start businesses.