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

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.

JUST IN: Former PayPal President: We're trying to turn #Bitcoin into a global payment network. We are still in the ‘fax era’ of payments. pic.twitter.com/VDjJ0u2Rgx

— Bitcoin Archive (@BTC_Archive) September 11, 2023

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

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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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