PayPal's Ex-President Advocates Transforming Bitcoin Into A Global Payment Network

Zinger Key Points
  • David Marcus, ex-PayPal and current Lightspark, pushes to make Bitcoin into a global payment network.
  • However, regulations, industry standards are all factors to delay the process.

Former PayPal PYPL President and current Lightspark CEO David Marcus emphasized that he is trying to turn Bitcoin BTC/USD into a global payment network. Marcus adds that there is high potential for the digital asset to be a “universal protocol for money on the internet.”

In an interview with CNBC’s Squawk Box, as reported by Bitcoin Magazine, Marcus added that Bitcoin has evolved from an uncertain digital currency to a recognized store of value and hedge against inflation. He marked the importance of expanding Bitcoin's utility beyond just a store of value.

As the narrative around Bitcoin and other digital currencies continues to evolve, staying ahead of the curve is essential. Dive deeper into these transformative shifts and connect with leading Digital Asset and Crypto experts at Benzinga's Future of Digital Assets. 

Marcus stressed the importance of Bitcoin advancing to provide quicker, more cost-effective, and efficient transactions, broadening its reach to a wider user base.

Also Read: Fintech Market Will Soar To $1T, Crypto Asset Management To Reach $3.1B: New Economic Titans

As the CEO of Lightspark, Marcus has pledged to do everything necessary to harness the complete capabilities of the Bitcoin Lightning Network. "Because it’s time for the world to have a universal open protocol for payments," he said, according to Bitcoin Magazine.

Despite many technical and regulatory hurdles, Bitcoin has the potential to transform the digital industry and make transactions faster and more accessible.

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Now Read: Bitcoin, Ethereum, Dogecoin Fall As Investors Await Key Inflation Numbers: Analyst Says King Crypto To Rally Above $100K After 2024 Halving

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