’s chief financial officer, John Rainey, spoke positively of ’s (BTC) use as a future popular option for payments during an interview with (WSJ) published Monday, Feb. 19.
In a section of the interview entitled, “Тhe crypto factor,” Rainey said that PayPal was one of the first companies to back in 2015. However, Rainey adds:
“Given the volatility of bitcoin right now, it’s not a reliable currency for transactions because if you’re a merchant and you have a 10% profit margin, and you accept bitcoin, and the very next day bitcoin drops 15%, you are now underwater on that transaction.”
In response to the question if cryptocurrencies will ever be popular as a payments, Rainey tells WSJ that there is “a very high likelihood” of that happening:
“The technology, there is real merit to it. I do think, though, it will be years down the road before we see the kind of ubiquity and acceptance that make it a form of currency that is used every day.”
PayPal co-founder Max Levchin that while he thinks Blockchain technology is revolutionary, he hasn’t “figure[d] out” his views on bitcoin’s future yet.
, a cryptocurrency wallet and exchange platform, former PayPal executive David Marcus to its board of directors last December.
Published at Tue, 20 Feb 2018 20:21:13 +0000
