David Marcus, former president of Paypal and now CEO of Lightspark, says that Bitcoin (BTC) is on the right track to become a major player in daily transactions, and not only as a value store. Speak during a CNBC Episode, Marcus revealed what he considers the next digital money phase – a future where the BTC has not only used but really used.
Thus, the senior executive predicts a transition to hybrid systems where people use national currencies for daily expenses, while holding and spending Bitcoin, won through things such as rewards or microtransactions.
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For him, it is not speculation – it is a function integrated into the way the system should work. He sees the bitcoin integrated into portfolios that people control, with sales that develop over time and can possibly be spent as money.
In recent times, the financial system, which has taken decades to build and move thousands of billions each year, has broken down, the former president of Paypal is convinced, pointing outdated infrastructure and slow payment systems which do not correspond to the speed at which the global economy of today really evolves.
His message to the old guard was clear: obsolete systems like Swift are not designed for what happens. If this new infrastructure takes off, Bitcoin could eventually do for money what the Internet has done for communication.
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On the side of Marcus, there is Lightspark, the company he directs, which works on technology to make this possible, based on BTC and by superimposing in tools such as universal monetary addresses.
According to the plans that the senior leader was broadcast during the maintenance of the CNBC, these addresses will instantly allow people to send money in different currencies between banks around the world.
