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Cryptocurrency and blockchain technology will transform the financial system: Paypal CEO

In an interview on March 14, Paypal CEO Dan Schulman shared his views on the future possibilities of cryptocurrencies and blockchain technology in the futuristic financial system. Schulman believes that the true value of digital currencies lies in payments rather than in buying and selling them or predicting their price action. Also, he believes that the intersection of CBDC, stable coins, digital wallets, and better payment utility through cryptocurrencies will reshape the financial sector.

Countries such as the United States, Russia, and China are already planning to launch their own central bank digital currencies, which might accelerate advancements in crypto and blockchain technologies. PayPal has been quite active in the cryptocurrency sector, raising the number of bitcoins its customers may purchase and investing in crypto training. Furthermore, it has enabled its customers to securely withdraw their cryptocurrency to third-party wallets.

PayPal CEO Dan Schulman will speak at the Axis Tel Aviv, an international investment and innovation conference, on Tuesday, March 29th, at the Peres Center for Peace and Innovation in Israel. This year’s conference will take place in person, with over 50 investors from foreign venture capital funds and international corporations meeting with 70 Israeli startups developing new technologies.

What is the connection like between PayPal and Israeli companies?

Within Israel, we have 18 different functional teams. It is not a single specialty, but a way of tapping into Israel’s vast talent pool. Clearly, Israel’s technology community is among the most advanced in the world. While much of it comes from the military, it is just a place with a can-do attitude and the concept of “we have no choice, we are going to win here.” We are going to take care of the things that need to be taken care of. With an incredible amount of discipline and knowledge in a variety of the technical AI fields that are important in today’s world, as a result, we are pleased to have a growing presence in Israel, which will continue to grow.
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Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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