The CEO of PayPal considers bitcoin unsuitable for use as a real currency

The volatility of bitcoin makes it unsuitable for use as real currency for retailers. About this CEO of PayPal Holdings Inc. Dan Schulman said in an interview with TheStreet.

"The retail retailers have a very narrow margin, so the use of bitcoin, jumping up and down by 15% within a couple of weeks can create a major difference between profit and losing money with each sale," said Shulman.
He also pointed out that to fix the value of each salesperson working with bitcoin would have to pay extra with each exchange of cryptocurrency for Fiat money. Agree the Director of the division of stock analysts at Buckingham Research Group Chris Bandler.
"It's just an inefficient way of transmitting values. This is inconvenient for the user process, and it is not a commercial process," he said.
On this basis, PayPal intends to support bitcoin as payment on its site, at least until the universal spread of cryptocurrency.

While Dan Shulman did not exclude the application of the technology for a distributed registry in most areas of the company: from contracts to real estate to financial services.

"I don't think about the blockchain as a competitor for PayPal or for other companies in the financial services. I think of it as a technology to innovate," said Shulman
+ 0 -