CEO of BitPay, Stephen Pair believes that Bitcoin and the other cryptocurrencies are on an increasingly mass adoption mode due to its wide-spread popularity. In a news interview, Pair said that he had shortened the timeline to about three to five years due to its mass acceptance. BitPay believes that in the near future all digital assets will be traded on the blockchain platform. Even most payments will be issued on a blockchain due to global acceptance in the near future. Due to this global transformation, BitPay is in a mode to create a platform for a mass transaction. It can be anytime between three to five years which Pair initially believed would take ten years. The future seems to be somewhat like someone goes to the departmental store or a restaurant and would make a blockchain payment.
This is not just about Bitcoin or the other cryptocurrencies that we know today. It’s about issuing leading global currencies on a blockchain platform. It is not about payments denominated only in Bitcoin terms but all kinds of digital assets that can be used for the payment.
One of the factors in the usage of Bitcoin currencies is the speculation of its price. It’s the investors who are speculating on the future usage of Bitcoin and its mass technological adoption. A small part of that price is the actual profit. BitPay believes in using the platform and delivering products to their end users which they would find valuable.
Similarly, like BitPay, Charles Hoskinson, creator of Cardano and Senior Vice President of Business and Corporate Development of Ripple, Kahina Van Dyke are also looking at the mass adoption of cryptocurrency in the near future.
At the Crypto Initial Coin Offering Summit hosted in Zurich, both agreed on the time frame by when crypto could reach a user base of one billion people. Certainly, the future looks bright with cryptocurrency while the world is there to adopt it.