Tech

Twitter CEO Jack Dorsey says no to joining Facebook’s Libra Association

Facebook’s cryptocurrency has faced string of setbacks in the recent times. With payment partners – Visa, Mastercard, PayPal and others – pulling out of the Libra Association hours before the inaugral meeting and the Facebook founder Mark Zuckerberg facing intense scrutiny and skepticism from the lawmakers at a recent senate hearing, Libra’s future seems to be peril because of Facebook’s past. And now Twitter chief executive officer Jack Dorsey has called Facebook’s cryptocurrency a “gimmick”.

Dorsey while speaking at media event in the New York City said that a cryptocurrency was not required to democratise the financial system. “I don’t know if it’s a gimmick” Dorsey said while responding to questions about Libra, as reported by The Verge. When asked if he would join the Libra Association, the Twitter founder replied with a “hell no”.

“It’s not an internet open standard that was born on the internet…It was born out of a company’s intention, and it’s not consistent with what I personally believe and what I want our company to stand for,” the publication reported the Twitter CEO as saying.

However, Dorsey didn’t stop right there. He also went to criticise Facebook chief executive officer Mark Zuckerberg over his argument on free speech on social media contending that it had major gaps and flaws. “We talk a lot about speech and expression and we don’t talk about reach enough, and we don’t talk about amplification…And reach and amplification was not represented in that speech,” the Twitter CEO said as reported by Bloomberg.

In case you are not sure what speech of the Facebook founder Dorsey is taking about then let me give you some context. Mark Zuckerberg was in the Georgetown university last week where he shared his thoughts on free speech on the internet. He also defended Facebook’s stance on not taking down a video containing false information about Joe Biden shared by Donald Trump.

“A lot of people talk about their experiences through stories that may be exaggerated or have inaccuracies, but speak to a deeper truth in their lived experience. We need to be careful about restricting that. Even when there is a common set of facts, different media outlets tell very different stories emphasizing different angles. There’s a lot of nuance here. And while I worry about an erosion of truth, I don’t think most people want to live in a world where you can only post things that tech companies judge to be 100% true,” Zuckerberg had said in his speech.

The Facebook founder also talked a lot about history and how internet and Facebook have given a voice to people who couldn’t share their views in the past. “There’s some amount of revisionist history in all his storytelling…It takes away from the authenticity and the genuineness of what we’re trying to do,” Dorsey said.

News is information about current events. News is provided through many different media: word of mouth, printing, postal systems, broadcasting, electronic communication, and also on the testimony of observers and witnesses to events. It is also used as a platform to manufacture opinion for the population.

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