Digital Fiat Currency Will Replace Paper Money-PayPal CEO

Published November 23, 2020 | Updated November 23, 2020

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Digital Fiat Currency Will Replace Paper Money-PayPal CEO

When asked about the threat to Bitcoin [BTC] from finance regulators PayPal CEO today in an interview to CNBC said that central banks will replace paper money with Digital fiat currencies that include cryptocurrencies, CBDCs and other stablecoins. It is to be noted that Paypal recently allowed users to buy Bitcoin [BTC] using fiat currency on Paypal.

Can Regulators Make Bitcoin [BTC] Obsolete?

One important point made by PayPal CEO Dan Schulman is that even in case if government regulators are against bitcoin [BTC] adoption we will still have forms of digital fiat currencies like CBDCs, cryptocurrencies and stablecoins.

He is positive about the fact that declining dependency on paper money in retail will boost the adoption of digital alternatives to paper money. He confirmed that PayPal is working hand-in-hand with govt. authorities as they make is more easier to use digital currencies like Bitcoin [BTC] for daily transactions.

He said,

PayPal will make it easier for users to use crypto as a funding source.

Recent news that Paypal is enabling purchase of Bitcoin [BTC] on their platform was bullish and played a key role in supporting the ongoing Bitcoin bull run. Not only PayPal large Wall Street player like JP Morgan, Paul BlackRock etc. are also bullish on Bitcoin [BTC].

Keep reading. Stay safe.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com
Sunil Sharma 182 Articles
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com
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