PANews reported on April 7 that according to Bitcoin.com, Jack Dorsey, CEO of Bitcoin technology company Block, said in Presidio Bitcoin's "21 in 21" podcast that although Bitcoin has developed to this day, it may still fail because it may lose the relevance of solving the problems it was originally designed for.
Dorsey believes that if Bitcoin wants to remain important in daily life, it must become a means of payment, otherwise people will only think of it in emergencies or cash. He emphasized that payment is a key factor in promoting Bitcoin adoption and avoiding its failure. Bitcoin supporters need to create a simple and easy-to-use payment experience, achieve scale and speed, and compete with Visa and Mastercard networks.
In addition, Dorsey also criticized Bitcoin's Lightning Network, a Layer 2 protocol for microtransactions that has its value but has challenges. He called for an open Bitcoin and the introduction of more complementary protocols that focus on ease of use and practicality. In his view, Bitcoin's development in the payment field is crucial. Only by becoming a daily payment method can it avoid failure due to loss of relevance. Payment may become a key turning point in the future development of Bitcoin.
