PayPal CEO Believes Crypto and Blockchain Will Reform Financial System

Paypal CEO Dan Schulman, in an interview on Monday, shares his insights on the future potential of cryptocurrencies and blockchain technology in the futuristic financial system. Schulman believes the real potential of digital currencies lies in payments, and not in buying and selling them or predicting their price action.

Furthermore, he thinks the intersection between CBDC, stable coins, digital wallets, and enhanced utility of payments through cryptocurrencies highlights the fascinating financial world in the future.

Crypto and Blockchain Are Futuristic Technologies: Dan Schulman

PayPal CEO Schulman, in an interview with CTech, remarks on the use-cases of cryptocurrencies and blockchain technology in the payments sector. He said:

“I’m very excited about what crypto and digital ledger technology can do to the financial system going forward.”

For him, buying and selling crypto, predicting bitcoin price action are the least interesting part than what these technologies hold for the future of the financial world. PayPal CEO also believes that the real exciting thing about digital currencies is what kind of utility can they provide in payments.

Moreover, he thinks the intersection between CBDC, stable coins, digital wallets, and enhanced utility of payments through cryptocurrencies will redefine the financial world. For instance, countries including the U.S., Russia, and China already planning to launch their central bank digital currencies, which could enhance advancements in crypto and blockchain technologies.

 “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 very active in the cryptocurrency arena and has also increased the limits of crypto its customers can purchase and investing in educating its users on crypto. In addition, it has also allowed its client base to withdraw its crypto safely to third-party wallets.

 Later this month, PayPal CEO Dan Schulman will speak at the Axis Tel Aviv, an international investment and innovation conference to be held at the Peres Center for Peace and Innovation in Israel on Tuesday, March 29. This year, the conference will be in-person with more than 50 investors from foreign venture capital funds and international corporations that will meet 70 Israeli startups that are developing new technologies.