Twitter’s Jack Dorsey: Internet Companies too powerful, Praises Bitcoin

On Wednesday, Twitter CEO Jack Dorsey said that prohibiting US President Donald Trump was the best resolution for Twitter. Still, he disclosed that few private companies shouldn’t dominate the internet. Dorsey said that the concept was disputed last week when several foundational internet tool providers opted not to host what they thought was treacherous.

He said that he trusts the companies came to their conclusions or were encouraged by others’ actions. He added that the inconsistent policies and lack of transparency undermine the efforts to build an open internet.

Dorsey noted that online speech resulting in distress across the globe should be acted upon even if a ban on an account is divisive. He added that if Twitter makes such a decision that people don’t like, they can go elsewhere, creating an inherent check on its power. 

Still, the across-the-board bans of Trump after the Capitol riot raised his level of concern.

Harmful Speech

Twitter and Facebook took down Trump’s account after last week’s violence at the Capitol, which the President incited through social media comments. YouTube followed on Tuesday, removing Trump’s last significant online channel for reaching his tens of millions of followers.

Meanwhile, the Parler app, mainly used by conservatives, has been banned by Apple, Amazon Web, and Google because of violent content and poor moderation controls.

Dorsey said the irregular policies and lack of transparency compromise the efforts to create an open internet.

Independent Entity

Dorsey wrote he has so much passion for Bitcoin because of its model; it has foundational internet technology not controlled by a particular entity.

Dorsey insisted the internet should be independent, and over time, it shall happen. For the first time, the Twitter CEO publicly addressed forbidding Trump from his platform. He said a decentralized alternative like Bitcoin, the digital currency, would be the best option for a free and open Internet in his Twitter thread.

He cited a statement from 2019 when Twitter said it was funding a small team called Bluesky to develop “an open, decentralized standard for social media.” He said the project is hiring now and will “do the work completely through public transparency.”

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Critics of other major social media companies believe Big Tech, specifically Twitter and Facebook, should check and balance more and control harmful messages.

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