If Jack Dorsey, CEO of both Twitter and Square, isn’t heralding wide-scale of , no one is.
The tech entrepreneur’s 4.15 million Twitter followers now know that he owns a hardware and he used to make the purchase via the Square Cash app. At the current price, he paid approximately $261.54 for the device (and presumably some accessories).
Dorsey killed two birds with one stone, so to speak, by demonstrating the ease in which the app works and illustrating good security habits for crypto newbies who might be following his lead. Now that he is scooping $10,000 worth of each week, which is the cap set by the Square Cash app, Dorsey needed somewhere to safely his funds. By announcing that he selected hardware security Trezor as his device of choice, he gave Prague-based SatoshiLabs, which is the maker of the hardware , some free press, which they ate up.
We are proud to welcome you to the family, ! Kudos for choosing open-source for your journey towards full digital sovereignty! 🙏! 😎
— Trezor (@Trezor)
If you’re wondering why Dorsey chose Trezor over competing crypto hardware Ledger, you’re not alone. His Twitter followers asked him the same thing, in response to which Jack pointed to the open-source nature of Trezor. As one follower stated and Jack agreed: “Ledger is great too, but it’s not fully open source. Their firmware is not open source due to vendor NDAs, as I understand it.” It warranted a response by Ledger:
Hello and thank you for raising awareness about ! The security model of hardware is quite complex, and offering open source firmware isn’t a silver bullet. We’ll provide more flavor during MIT expo on Sunday.
— Ledger (@Ledger)
Massive Acceleration
Dorsey is forecasting “massive acceleration” for over the coming decade and is doing his part to bolster the crypto’s use case as a currency. that sooner or later the Square Cash app will integrate Lightning Network technology, which will accelerate transactions for everyday micro-purchases.
Dorsey has become increasingly engaged with the crypto community, especially since he participated in the , which is a relay in which payments are passed from one user to another to demonstrate the speed of the network.
Crypto Platform
In addition to the tech community, U.S. politicians are beginning to incorporate crypto into their platforms. John Delaney, a 2020 presidential candidate who describes himself as an entrepreneur, cheered the recent DC Summit in which CFTC Chairman Christopher Giancarlo touted his “do no harm regulatory approach to distributed technology. Digital Currency Group’s Barry Silbert tweeted the development –
Looks like the /crypto industry has an ally in 2020 presidential candidate John Delaney
— Barry Silbert (@barrysilbert)
In his remarks, Giancarlo envisioned a world in which the was present during the Financial Crisis a decade ago,: “At a minimum, it would certainly have allowed for far prompter, better-informed, and more calibrated regulatory intervention instead of the disorganized response that unfortunately ensued.” Meanwhile, though Delaney may be a lesser-known candidate in the presidential horserace, he could be the one to make crypto and innovation among the topics of the election.
Published at Sat, 09 Mar 2019 12:08:24 +0000
