Jack Dorsey Predicts Massive Bitcoin Acceleration, Ripple Boosts Kuwait’s Largest Bank, and Ledger Issues Monero Warning: Crypto Update

Bitcoin

Twitter and Square CEO Jack Dorsey says the Bitcoin whitepaper is one of the most seminal works of the last 20 years.

In a new interview on the Tales from the Crypt podcast, Dorsey talks about his early experiences with cryptocurrency and why he decided to integrate BTC with Square’s Cash App.

On the subject of Bitcoin and blockchain, and how they’ll impact the growth of the internet at large, Dorsey says he believes a “massive acceleration” is on the horizon.

“Imagine being born this year, growing up only knowing that the potential for a global currency exists. That is exciting. So, just what that person does, the person born in this year or even the past few years, growing up only knowing that this potential exists – what that person does with that realization is amazing…

“I think there’s a massive acceleration that is going to happen within the next 10 years, because the generation growing up only knowing these technologies exist – pairing AI with blockchain, and being able to have this amazingly accessible environment to program in.

So that’s what excites me. The acceleration points rather than the specific points on the timeline.”

Ripple

The National Bank of Kuwait (NBK) says it is now using Ripple’s technology to give its customers the ability to send instant transactions around-the-clock.

In a speech at East Chain Open Hub 2019, NBK’s Head of Group Operations Mohammed AlKharafi talked about the advantages of Ripple’s xCurrent payment software.

“Today, with Ripple, we have a product which is available online only. You can send a wire transfer from Kuwait to NBK Jordan, and it will reach there within seconds – 24 hours a day, seven days a week, without any delay.

So that’s where we want to go. That’s what we anticipate. That’s where we want to leverage this technology most. And we hope to expand to greater areas, to new corridors, looking at different countries, not just our network. But also leveraging on our existence in 14 countries over four continents and really pushing this product.”

Monero

A lead developer at the hardware wallet company Ledger has issued a warning, telling users to stop using the Monero app on the Ledger Nano S.

The team is investigating a reported bug that could cause users to lose their funds.

Developers initially thought the problem could be linked to a synchronization issue, but have since confirmed that that is not the case. The bug first came to light when a user on Reddit created a post claiming he or she lost 1,680 XMR worth about $81,000.

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