PayPal CEO: Cryptocurrencies are an experiment …

PayPal CEO: Cryptocurrencies are an experiment …

PayPal CEO: Cryptocurrencies are an experiment that is not interesting to us at this stage

PayPal CEO Daniel Shulman is not sure if the future of cryptocurrencies is bright in the short term. He stated this during a speech at a meeting of the Economic Club of New York in Manhattan..

“We need to deal with regulation and a whole host of things. Now this is just an experiment. It is completely unclear how it will develop further, “Bloomberg quotes Shulman..

This statement may come as a bit of a surprise, as PayPal’s patent filing was released just this week, in which the payment company offers a way to quickly transfer cryptocurrency transactions. At the same time, it should be borne in mind that the application was drawn up 18 months ago and may not necessarily correspond to the real interests of the company..

Jason Deleu, an analyst at Piper Jaffray Bank, commented: “The filing time against more recent public comments from PayPal suggests that any short-term decision by PayPal to scale cryptocurrency payments for merchants could lose priority. However, PayPal says that cryptocurrencies have long-term benefits and may eventually become ubiquitous and ubiquitous as an everyday means of payment. “.

Deleu’s speculation is consistent with a comment by a PayPal spokesman who said his company is “interested in any technology, process or application that can help it fulfill its mission of making financial services more accessible.”.

PayPal CEO: Cryptocurrencies are an experiment ...

Like most of his colleagues, Schulman speaks positively about the prospects for blockchain. In his opinion, blockchain has a much brighter future than cryptocurrencies, which are just one of its uses..

On the other hand, PayPal CFO John Rainey recently stated that cryptocurrencies may someday become a popular payment method, and the likelihood that Bitcoin will become widespread at some stage is very high..

According to a spokesperson for PayPal, the company has a team of developers exploring the possibilities of using blockchain in its infrastructure..

PayPal CEO: Cryptocurrencies are an experiment ...

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