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Twitter and Square CEO Jack Dorsey apparently has big visions for bitcoin\u00a0that he believes that the cryptocurrency will become the world\u2019s single currency within 10 years.<\/p>\n
\u201cThe world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin.\u201d Dorsey went on to say that the transition would happen \u201cprobably over ten years, but it could go faster,\u201d which seems like an extremely unrealistic projection, even considering cryptocurrency\u2019s meteoric rise in popularity over the past few months.<\/p>\n
Dorsey is also the CEO of Square, which recently added the option to\u00a0buy and sell Bitcoin directly\u00a0from the Square Cash app.<\/p>\n
Maybe Mr. Dorsey should know that\u00a0On Tuesday, a 15-year-old from the UK proved bitcoin security or wallets where the currency is stored was able to back door into the wallet.\u00a0 \u00a0Saleem Rashid\u00a0demonstrated proof-of-concept code that had allowed him to backdoor the\u00a0Ledger Nano S, a $100 hardware wallet that company marketers have said has sold by the millions. The stealth backdoor Rashid developed is a minuscule 300-bytes long and causes the device to generate pre-determined wallet addresses and recovery passwords known to the attacker. The attacker could then enter those passwords into a new Ledger hardware wallet to recover the private keys the old backdoored device stores for those addresses.<\/p>\n
Security is one of the biggest pieces that Bitcoin cannot handle at the moment, it has been proven with vast amounts of hackers getting into the currency.<\/p>\n
That doesn’t stop\u00a0Google who is working on blockchain-related technology to support its cloud business and head off competition from emerging startups that use the heavily-hyped technology to operate online in new ways, according to people familiar with the situation.<\/p>\n
So the future looks to be a Bitcoin – Blockchain world but way too many holes to put money into as well as the funds dropping from the whopping high prices in 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"
Twitter CEO: Bitcoin will be the world\u2019s \u2018single currency\u2019 in 10 years Twitter and Square CEO Jack Dorsey apparently has big visions for bitcoin\u00a0that he believes that the cryptocurrency will become the world\u2019s single currency within 10 years. \u201cThe world ultimately will have a single currency, the internet will have a single currency. I personally […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[169,170,223],"class_list":["post-861","post","type-post","status-publish","format-standard","hentry","category-software-events","tag-bitcoin","tag-blockchain","tag-dorsey"],"yoast_head":"\n