Co-founder of Apple, Steve Wozniak, believes that cryptocurrencies have a great future as a means of payment. He shared these thoughts on the new show “Unicorn Hunters” by Yahoo Finance Live: “Yes I am in that camp that crypto will be used effectively,” Wozniak said. – “We just have so much digital ways to pay for things now, even to transfer money to people. It goes back to PayPal, and now we have Apple Pay and Apple Cash. We have Venmo. So crypto has just a bit of anonymity. I don’t know if that’s right that, gosh I can do things without people knowing. It’s hard to trace back.”
Cryptocurrencies as a means of payment seem to be gaining momentum recently, despite their volatility. No matter how much the adherents of the US dollar may dislike it, it’s a fact.
Bakkt shares skyrocketed earlier this week after announcing their partnership with Mastercard to offer cryptocurrency debit and credit cards. According to Yahoo Finance cryptocurrency reporter Jennifer Schonberger, this partnership should make it easier for consumers to pay in crypto.
On Thursday, 28th October, the founder of Affirm, Max Levchin, told Yahoo Finance Live that his “buy now, pay later” platform continues to explore the possibility of adding cryptocurrencies to its arsenal.
Levchin seems to be more sceptical about crypto than Wozniak: “As crypto and more established coins like bitcoin become part of the vernacular in the retail investing industry, I think it can orient as an asset class,” Levchin explained. “I am still fairly skeptical of a rapidly appreciating asset class being used as medium of exchange. So I don’t think it lives up to the currency name just yet, although as we know things are changing pretty rapidly.”
Other representatives of the industry do not volunteer to pioneer. American Express is among the most them: “You are probably not going to see an Amex crypto-linked card anytime soon,” American Express CEO Squeri said on Monday, 25th October, at the Yahoo Finance’s All Markets Summit.
A technophile, Steve Wozniak believes that blockchain makes cryptocurrencies even more promising: “Crypto has an awful lot of promise through the blockchain of different things it can do differently than before… right down to elections even,” Wozniak added. “It has a very trustable format that can’t be modified easily.”
The development of IT is increasingly affecting business and just everyday life. However, not every country can ensure not only the confidentiality and convenience of the implementation of new technologies but also full compliance with legislation. Therefore, many issues will have to be resolved before blockchain-based elections will become possible.
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I am sure that crypto assets are a new type of economy. We are at the origins of the crypto revolution. Right now, it is worth studying what cryptocurrencies and the blockchain are in order to make the most of this knowledge and these skills in the future.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
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