RATE Group | Crypto Still Needs to Prove Itself to Catch On
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Crypto Still Needs to Prove Itself to Catch On

09 Mar Crypto Still Needs to Prove Itself to Catch On

Posted at 09:41h in Cryptocurrency News by

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Crypto developers must follow consumers closely if they want the industry to take off in a big way, Paypal’s chief technical officer has said.

Sri Shivananda — an eBay veteran who has been in his role at PayPal since 2016 — made his remarks at the Economic Times (ET) Global Business Summit, ET reported on March 9.

During his speech, Shivananda noted that cryptocurrency has, in many cases, become more akin to “asset play” than to currency. He said:

“The main thing to keep in mind in this business is to follow consumers. If consumers start to feel like there’s some leverage that they get through cryptocurrencies, everything else will automatically fall in line.”

Currency digitization is a matter of “if not when”

From his perspective as a high executive in one of the digital payments industry’s oldest players, Shivananda believes the digitization of currencies is inevitable — a matter not of “if, but when.” Its future will take shape to reflect engagement by…

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