PayPal CEO Declares Cryptocurrencies Are "An Experiment"

Dan Schulman, PayPal CEO has no love for cryptocurrencies as they are now. He declared that cryptocurrencies are an experiment, and it is unclear the way that it will go. He stated this on a meeting in the Economic Club of New York, according to Bloomberg.
He also stated that cryptocurrencies and the cryptocurrency market are still at infants stages and it needs clear rules to be stable. “Regulations need to be sorted out and a whole number of other things”. He didn’t talk about adoption or the future of cryptocurrencies in general.
However, cryptocurrencies are but one application of blockchain tech. Earlier this week PayPal introduced a patent for instant paying involving blockchain tech. Schulman declared that blockchain is the most powerful part of the landscape today and that in the future it will be a key technology for most industries.
PayPal is another of the payment companies which business model is being threatened by the existence of bitcoin and all cryptos, along with all payment processing and remittance companies.

Related posts
BanksBitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTMarketsNewsUSAxbtusd

Bitcoin Retakes $57K As Hundreds Of US Banks Prepare To Offer Crypto Trading And Custody To Clients

Bitcoin has recouped the losses from recent sell-off after news that the world’s oldest cryptocurrency is soon coming to hundreds of United States banks. Data from CoinMarketCap shows that bitcoin is hovering at $57,091.36 at press time, with 5.47% daily…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTJamie DimonjpmorganNewsxbtusd

My Clients Care About Bitcoin, I Don’t: JPMorgan CEO Jamie Dimon

The trajectory that bitcoin has seen over the last decade has been nothing if not interesting. There was a time where it was popular among top financial executives to denounce bitcoin and declare it is a scam or fraud at…
CoinbasecryptocurrencyCryptocurrency NewsFeaturedNews

How Coinbase is Driving the Crypto Market to the Richest Fintech Hands

Not every cryptocurrency proponent is a fan of the giant exchange platform Coinbase. But if sentiments are kept aside, it is crystal clear that the platform is leading the cryptocurrency market into some of the richest hands the industry will…