The CEO of one of the world’s largest payment providers predicts that cryptocurrency technology will revolutionize financial systems globally.
Ahead of Axis Tel Aviv’s international investment conference, PayPal CEO Dan Schulman told interviewers that he has high hopes for cryptocurrencies in the future.
“I am very excited about what cryptography and digital accounting technology can do for the financial system in the future…”
Schulman’s high hopes for crypto go far beyond Bitcoin (BTC) trading and into the realm of real-world use cases such as crypto as payment options.
“I think the initial things that everyone thinks about cryptocurrencies, buying and selling, and what is the price of Bitcoin tomorrow, that’s the least interesting part of digital currencies for me. This is thinking of digital currencies as an asset class. To me, the really exciting thing about digital currencies is the kind of utility they can provide in payments.”
Specifically, the payments giant’s CEO believes that central bank digital currencies (CBDCs) and digital wallets have the power to redefine everyday financial interactions.
“Clearly, around the world, central banks are considering issuing digital currencies. The intersection of CBDC, stablecoins, digital wallets and the enhanced utility of cryptocurrency payments is not only fascinating, but I think it will redefine much of the financial world going forward.”