Dan Schulman: Crypto will revolutionize Finance
Interviewed on Monday by the CTech media, the CEO of the Paypal group reaffirmed his enthusiastic vision of digital assets. According to Dan Schulman, cryptos are still far from expressing their immense potential. Especially with regard to their use as a means of payment.
In an interview published on Monday, Dan Schulman shares his thoughts on the evolution of the crypto sector. According to him, digital assets should continue to develop and be used more massively as a means of payment. A vision consistent with the actions implemented concretely by the Paypal company.
Dan Schulman, Convinced Cryptophile!
CEO of the Paypal group since 2015, Dan Schulman seems to be convinced of the potential of digital assets over the long term. According to him, cryptos could be a real “game changer” in the world of finance, as he illustrated on Monday:
I am very excited about what cryptocurrencies and digital ledger technology can bring to the financial system in the future.
In recent months, the Paypal group has been very active in the world of cryptos. For example, the group has increased the crypto purchase limits via the platform. It is also possible today to withdraw your crypto balance to other digital wallets, whether hot or cold.
In a few days, Dan Schulman should speak at an international conference on investment and innovation. This one, which will be held at the Peres Center for Peace in Tel Aviv, should see more than fifty venture capital investment players and more than 70 Israeli start-ups working on blockchain technologies.
Cryptos: A Truly Credible Means Of Payment?
Economic thought often retains three main roles for a currency. This must be both:
- Store of value
- Account unit
- Means of payment
And it is on this last aspect that Dan Schulman considers that crypto could develop considerably in the near future. It is also in accordance with this vision that the Paypal group has embarked on the democratization of the use of cryptos as a means of payment. Like other payment giants like the Visa group.
Thus, according to Schulman, the real potential of digital currencies lies in the function of intermediaries of exchanges (means of payment) and not in their role as speculative assets. A vision all the more credible as the crypto sector now makes available a number of new tools such as stablecoins and more and more digital wallets. The deployment of CBDCs (central bank currencies) could also be a strong argument for using digital assets as a payment tool. A hot topic in several countries such as the United States or Russia. But in this little game, China now seems to have a head start.