Jack Dorsey resigned as Ceo of Twitter last month (1/12/2021) and focused on the cryptocurrency market. He also developed a bitcoin mining system. The Twitter founder also proposed creating a developer legal fund to fight lawsuits. Dorsey said the legal fund aims to minimize legal issues to prevent software developers from actively developing lightning network projects, bitcoin privacy protocols, and the like. “Because, currently cryptocurrencies are becoming more common as the ecosystem develops,” quoted from NDTV, Sunday (16/1).
The lightning network project is a second-tier technology on the blockchain network that facilitates users to transact more efficiently and quickly.
According to Jack Dorsey, the fund will offer free legal aid if the developer is involved in a legal case. Most of them will rely on part-time lawyers and volunteers. Then, the fund manager will form a board member who assesses the case and decides who receives legal aid. Dorsey also built the bitcoin mining system through Block, initially named Square. The corporation, founded in 2009, started from a financial technology platform (fintech), then expanded into the bitcoin market.
Dorsey resigned as Twitter’s CEO late last year and was replaced by former CTO Parag Agrawal.
“My trust in Parag as CEO of Twitter is deep. His work over the last ten years has been transformational,” Jack Dorsey said late last year (11/30/2021). He resigned because he believed the company would thrive without a founder.
After resigning from Twitter last year, Jack Dorsey heavily invested in bitcoin. “If I weren’t in Square or Twitter, I would be working on bitcoin,” Dorsey said in June.
It is interested in blockchain because it functions as a primary internet technology controlled or influenced by any entity. He also likes the decentralized nature of power on the internet. At Twitter, he also spearheaded the funding of the BlueSky project that became the social media company’s standard. Through the project, users of social media networks will communicate more easily. Tom Lee, head of research at Fundstrat Global Advisors, said Dorsey’s focus on bitcoin would help bullish prices for bitcoin. “It takes people like Jack Dorsey to put together a focus on bitcoin,” Lee said CNBC.
Baca juga : 9 Negara Berencana Menerima Cryptocurrency Tahun Ini
