Jack Dorsey, the iconic CEO and founder of Twitter, has decided to step back. Indeed, this Monday, he announced that he was leaving the management of the media’s favourite social network. Having become a pro bono advocate for Bitcoin (BTC) in recent years, Jack Dorsey may be moving into decentralised Web 3.0 applications.
Jack Dorsey leaves Twitter leadership
Admittedly, Jack Dorsey had stepped back in recent years and was less present than in Twitter’s early days. Nevertheless, yesterday’s announcement was not necessarily expected. The founder and now ex-CEO of the famous social network is leaving his post. It was himself who relayed the announcement… on Twitter.
not sure anyone has heard but,
I resigned from Twitter pic.twitter.com/G5tUkSSxkl
– jack⚡️ (@jack) November 29, 2021
Twitter will now be led by Parag Agrawal, former CTO of the social network. Dorsey will remain on the company’s board of directors, however. Jack Dorsey, 45, is also CEO of Square, an online payment company, which he previously ran alongside Twitter.
This is not the first time Dorsey has jumped ship at Twitter. Indeed, in 2008, he was forced to leave his post and was finally recalled as a matter of urgency in 2015. However, this time, the return is not topical, as Dorsey seems to have other projects.
Jack Dorsey and Square have plans for Bitcoin (BTC)
What does Jack Dorsey’s resignation mean for Bitcoin (BTC) and the blockchain? The answer is that the Twitter founder is a strong supporter of cryptocurrency and his company Square has acquired a lot of BTC in recent months.
Last month, Jack Dorsey and Square announced plans to produce BTC mining machines. More importantly, just a few days ago, Dorsey’s company released the whitepaper for its future decentralised exchange platform for Bitcoin.
By resigning from his position as CEO of Twitter, Jack Dorsey could therefore devote himself exclusively to the launch of this new exchange platform, called “tbDex”. More generally, it’s Web 3.0 that Dorsey is aiming for.
“If I were not at Square or Twitter, I’d be working on bitcoin” – Jack Dorsey last summer pic.twitter.com/SlNyAOIdzn
– Bitcoin Magazine (@BitcoinMagazine) November 29, 2021
Jack Dorsey may be involved in Web 3.0 development
Web 3.0, also known as web3 and nicknamed the “decentralized web”, is still in the development and experimentation stage. To sum up in one sentence, Web 3.0 is the evolution of the Web 2.0 we know today, with an emphasis on decentralisation
The founder of Twitter, Jack Dorsey @jack, has announced he is stepping down as CEO. After leaving the position of Twitter CEO, Jack Dorsey can fully commit himself to launch a new exchange platform. This is a calculated move away from Web 2.0 towards Web 3.0.web3 JackDorsey pic.twitter.com/DgaGg97KYb
– DEIP – Creator Economy Protocol (@DEIP_World) November 30, 2021
So far, all Web 3.0 applications are related to cryptocurrencies and blockchain. The most topical example is decentralised finance (DeFi) where users are their own banks and credit institutions.
However, the term Web 3.0 is rather nebulous, as these applications are still marginal or under development. The arrival of Jack Dorsey, with his 100% involvement, could change this.
Indeed, a personality like Dorsey is able to develop the sector exponentially. The year 2021 has been a great success for the whole digital assets and blockchain sector. The interest now is to materialise this interest in the web applications of tomorrow.
