1:49 AM
Why does PayPal consider cryptocurrencies a promising asset?

For cryptocurrencies to begin to spread more actively in the world, their advantages should be obvious to consumers. From this point of view, the technical director of the PayPal payment system spoke. That is how he commented on the decision of the Indian Supreme Court to remove restrictions on the use of digital assets, giving an interview to Times of India.

Digital coins are used primarily for playing with assets, and have not turned into a self-sufficient currency. The main rule in this business is that companies should follow customers. If consumers can appreciate the benefits of cryptocurrencies, everything else will happen by itself.

At the same time, the PayPal technical director is confident that the money will become digital over time. To this end, financial companies, sellers, consumers, authorities and regulators from different countries should combine their efforts.

Commenting on PayPal’s refusal to participate in the Libra project, the company's technical director spoke about doubts about the project’s ability to achieve its stated goals in the medium or short term. In other words, PayPal is not sure that Libra will be useful for people if the current system does not support it.

The representative of PayPal, talking about digitalization of payments, mentioned the Unified Payments Interface system, which is in demand in India. Their experience is inspiring - the model was not just implemented, but made really useful. Such examples should be guided by all companies and countries who want to get inspiration and new ideas for implementing their projects around the world.

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