The chief executive of one of the world’s largest payments providers is predicting cryptocurrency technology will revolutionize financial systems globally.
Ahead of the Axis Tel Aviv international investment conference, PayPal CEO Dan Schulman tells interviewers that he has high hopes for crypto tech in the future.
“I’m very excited about what crypto and digital ledger technology can do to the financial system going forward…”
Schulman’s high hopes for crypto go far beyond Bitcoin (BTC) trading and into the realm of real-world use cases, such as cryptos as payment options.
“I think the initial things that everyone thinks about crypto, buying and selling it, and what the price of Bitcoin is going to be tomorrow, that’s the least interesting part about digital currencies to me. That is thinking about digital currencies as an asset class. To me, the real exciting thing about digital currencies is what kind of utility can they provide in payments.”
Specifically, the payments giant CEO thinks central bank digital currencies (CBDCs) and digital wallets have the power to redefine everyday financial interactions.
“Clearly, across the world, central banks are looking at issuing digital currencies. The intersection between CBDC, stable coins, digital wallets, and enhanced utility of payments through cryptocurrencies is not just fascinating, but I think will redefine a lot of the financial world going forward.”
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