John Rainey, who holds the position of CFO PayPal, said that Bitcoin and other crypto currencies in the future could take their niche among payment instruments.
According to Rainey, currently digital currencies do not yet have sufficient reliability to make payments. However, he believes that in the future the situation may change.
John Reini: "Bitcoin technology is promising"
He stressed that Bitcoin is unreliable because of high volatility, which can seriously affect the outcome of transactions. So, the seller can receive payment in a crypto currency with 10% profit margin, however, the next day its value can fall dramatically at 15%, leaving it "under water".
Despite this, Rainey believes that there is a high probability of using Bitcoin as a means of payment everywhere. He said that technology has enough potential to become in a few years one of the usual forms of currency used daily, reports BlockTribune.
Earlier, Max Levchin, one of the co-founders of PayPal, expressed his opinion about Bitcoin, calling it "a brilliant idea," which, nevertheless, still requires verification.
Author: Vasilisa Ming, Analyst Freedman Club Crypto News
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