The Bitcoin standard makes you think long-term, not just financially.
Based on the happiness quotient and willingness to participate, he intends to identify use cases for wide-scale implementation.“When you have something like Lightning , where you can transact at very low fees is a benefit for everyone. It doesn't matter where are economically.”
In terms of financial literacy, Dorsey said that adopting the Bitcoin standard inculcates long-term thinking, however, his skepticism toward a BTC-powered universal basic income will reduce based on the results portrayed by the ongoing experiments: “Just that action of owning it will change people’s mindsets in fundamental ways that are net positive and compounds throughout their communities, and encourages other actions like sellers and merchants around them doing similar things.”
Along with the benefits that come with the Bitcoin standard, Dorsey is also vigilant about its negative impacts. On an end note, he highlighted the inefficiencies within the government policies and how UBI helps address some of the challenges: “If you intend to help people by giving them money directly is far better than the money that the governments spends on these existing support structures. It’s not helping people.”