PayPal CEO Says Crypto and DLT Will Redefine Financial System

by in Cryptocurrency News

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The Chief Executive Officer of PayPal, Dan Schulman believes cryptocurrencies and blockchain will redefine the financial sector.

Related: Circle CEO Finds the Crypto Order Is a Watershed Moment

In an interview with the Israeli tech news provider CTech, Schulman mentioned being excited about what crypto and digital ledger technology can do to the financial sector in the future. According to him, although the initial things that everyone thinks about crypto are buying and selling it, predicting Bitcoin's price for the next day, it is the least interesting part of digital currencies. Schulman finds the real exciting thing about digital currencies is what kind of utility they provide in payments.

PayPal CEO mentioned that Central Banks across the world are looking at issuing their digital currencies. What will redefine a lot of the financial world is the intersection between CBDC, stablecoins, digital wallets, and enhanced utility of payments via crypto, Schulman said.

CTech wrote that the interview was held before the international investment and innovation conference Axis Tel Aviv which will happen on March 29.