Paypal CEO Dan Schulman discussed the future potential of cryptocurrencies and blockchain technology in the futuristic financial system in an interview on Monday.
The actual promise of digital currencies, according to Schulman, is in payments, not in buying and selling them or anticipating their price movements.
Furthermore, he believes that the intersection of CBDC, stable coins, digital wallets, and enhanced payment utility through cryptocurrencies will highlight the intriguing financial world of the future.
Dan Schulman believes that cryptocurrency and blockchain are futuristic technologies.
In an interview with CTech, PayPal CEO Schulman discusses the applications of cryptocurrencies and blockchain technology in the payments industry. He said:
“I’m very excited about what crypto and digital ledger technology can do to the financial system going forward.”
Buying and selling crypto, as well as anticipating bitcoin price movement, are less interesting to him than the implications these technologies have for the financial world’s future. The real fascinating thing about digital currencies, according to PayPal’s CEO, is the amount of use they can bring in terms of payments.
Furthermore, he believes that the intersection of CBDC, stable coins, digital wallets, and enhanced payment utility through cryptocurrencies will reshape the financial sector. Countries such as the United States, Russia, and China, for example, are aiming to develop their own central bank digital currencies, which might help advance crypto and blockchain technology.
“Clearly, across the world, central banks are looking at issuing digital currencies,” Schulman continued. “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.”
PayPal has been quite active in the cryptocurrency space, increasing the amount of cryptocurrency its clients can acquire and invest in educating its users on crypto. It has also made it possible for its customers to safely withdraw their cryptocurrency to third-party wallets.
PayPal CEO Dan Schulman will speak at the Axis Tel Aviv conference, an international investment, and innovation conference, on Tuesday, March 29 at the Peres Center for Peace and Innovation in Israel. More than 50 investors from foreign venture capital funds and international corporations will meet 70 Israeli startups exploring innovative technologies at this year’s conference, which will be held in person.