Jack Dorsey: Bitcoin will be the world's single currency in 10 years

Founder and CEO of Twitter Inc. and Square Inc., Jack Dorsey, said bitcoin will be the world's sole currency in 10 years. The tech entrepreneur has a great interest in cryptocurrency and predicts the world will eventually have a single currency and the transition will happen within the next ten years.

"I personally believe it will be a bitcoin. The transition will happen, maybe more than ten years, but it could be faster," said Dorsey.

Dorsey recently added an option to buy and sell bitcoins directly from the Square Cash app. The company also released children's illustrated stories that promote the benefits of digital currencies. The internet entrepreneur also has a number of unspecified cryptocurrencies.

Dorsey said the benefits of bitcoin as currency is a start or a great opening for other financial worlds in the future. Blockchain makes things easier and ensures cryptocurrency runs as it should.