People do all sorts of things for money, because as much as we deny it, money is power. However, could bitcoin be different? That’s what Twitter and Square’s CEO Jack Dorsey is hoping, where he hopes that the cryptocurrency will be able to bring about world peace by addressing financial inequalities.

According to Dorsey,  “My hope is that it creates world peace or helps create world peace. We have all these monopolies off balance and the individual doesn’t have power and the amount of cost and distraction that comes from our monetary system today is real and it takes away attention from the bigger problems.”

His comments were made during a panel called “bitcoin as a tool for economic empowerment” for the virtual conference, The B Word, which also featured other prominent tech giants such as Tesla’s CEO Elon Musk and Cathie Wood, chief executive of Square stakeholder ARK Invest.

Dorsey also notes, “All these distractions that we have to deal with on a daily basis take away from those bigger goals that affect every single person on this planet and increasingly so. You fix that foundational level and everything above it improves in such a dramatic way. It’s going to be long-term but my hope is definitely peace.”

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