Jack Dorsey’ UBI plan to push the adoption of Bitcoin

Jack Dorsey is ready to push the adoption of Bitcoin with the small scale investment in the United States. 

Jack Dorsey is CEO and founder of Block. He believes in Bitcoin because of its quality of trust and decentralized nature. In Q4 2021, Jack Dorsey left his job as a CEO of Twitter to work full time on Bitcoin and blockchain-based development works. 

Former Twitter CEO Jack did a discussion on the Bitcoin (BTC) backed universal basic income (UBI) system with Aarika Rhodes, who is a US congressional candidate and a full-time elementary school teacher. 

Jack noted that current decentralized systems are not in favor of the community or family because of a lack of transparency. 

“Obscurity of information forces and incentivizes people to negative (financial) behaviors that don’t work for them, their community or family while pointing out the lack of transparency within the existing centralized financial system.”

Further, he added that if we focus on Bitcoin then we will get huge transparency and huge policy transparency with its technology also. 

“If there’s one thing to focus on in Bitcoin — the operations are transparent, the code is transparent, the policy is transparent.”

Jack believes that Bitcoin can solve multiple problems against the limitations and disadvantages to use fiat currencies. For this initiative, Jack invested $55 million in the United States and overseas to start the work initially on UBI.

“We’re about to do a test of the UBI-like concept with Bitcoin as well.

Under this new experiment of Jack, they will collaborate with a communities, which includes a community of sellers and merchants that adhere to the Bitcoin standards. After better success through these small-scale efforts, he will try to do the same on high-scale implementation. 

He also noted that with such aims, he aimed to change the fundamental thinking of people.

“(We) will change people’s mindsets in fundamental ways that are net positive and compound throughout their communities, and encourage other actions like sellers and merchants around them doing similar things.”

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