The Blockchain space has continued to grow in fortunes, as the digital assets which have been attracting investors into the space have continued to thrive, even in the face of criticisms. Bitcoin remains the most successful digital asset in the space, and it is still the most coveted by many investors flocking the space. However, Paypal CEO- Dan Schulman, in an online Forbes-themed event yesterday, has confirmed to the public that PayPal’s crypto services will continue to witness more upgrades, as everyone around the firm is optimistic about the future of Bitcoin and the cryptocurrency space.
Schulman stresses that the next ten years will be the most crucial for digital assets
Speaking at Forbes’s 2021 Blockchain 50 Symposium, Schulman discussed the ambitions of Paypal’s crypto offering with Forbe’s Michael Del Castillo, sighting that the cryptocurrency space will change the way the world sees finance in the next five years. Schulman believes that, with Bitcoin hitting a new ATH price this week, the asset’s fortune will continue to propel the cryptocurrency space to a greater height.
The PayPal CEO is also of the opinion that innovations will continue to spring up in the world’s financial system, as he is also of the opinion that regular payment options like credit card and cash transactions will become obsolete and outdated in the next decade. Surprisingly, Schulman believes that the world is currently in the digital era, and he believes that digital assets are likely going to be the next big thing. He believes that the next five years will be crucial for digital assets, as he sees a world where the digital assets and Central Bank Digital Currencies (CBDCs) will be at the forefront of utility payments globally.
PayPal will continue to strengthen its crypto offerings
Schulman, whose company has been helping individuals and businesses overcome the burden of receiving money for goods and services, believes that the world’s development when it comes to financial inclusion is still slow. The PayPal Executive believes that, despite the amount of technology being used to send and receive money globally, the system is still a slow one.
However, he is optimistic that the technology being employed by various Blockchain firms will smoothen this hurdle in the next five years, which he believes will be the most critical for the Blockchain system. Schulman also expects to see more adoption of cryptocurrencies in that same period, predicting that one out of every four individuals will be affiliated with digital assets in the next ten years.
The CEO also spoke about his firm’s Crypto offering- a bespoke crypto service that allows crypto investors to buy, sell and trade various cryptocurrencies, and was launched in November 2020, sighting that the service has been successful since its launch. He has now reiterated the payment giants’ commitment to the Blockchain community, sighting that they have so many upgrade in their offerings for their crypto projects.