Beyond the expectations of users, PayPal's cryptographic services are welcomed
In an April 25 interview with Time magazine, PayPal CEO Dan Schulman said demand for the digital currency services the company recently offered was significantly higher than expected:
The demand in this field has been many times what we initially expected and there is a lot of excitement in this field.
Schulman claims that PayPal has been monitoring the digital currency space for six years. However, the payment giant waited for digital assets to become more widely accepted in society.
Last October, PayPal made it possible for its US users to buy, sell and hold digital currencies, and in late March, it launched its digital currency payment service.
Schulman predicts significant changes in the financial system over the next ten years, which he believes will make today's payment services inefficient:
If you cash a check, receiving money can take up to three days. If you make an international remittance, your money can take up to seven days.
The head of PayPal predicts that up to 10 "superapps" will be used for payment services in the future, and cash will face a "significant reduction".
He also predicts that credit cards will eventually disappear and be replaced by mobile phones.