Stripe COO: the best use of Bitcoin — extortion

Cryptocurrencies will not replace credit cards and other common payment system for at least the next ten years. All because you’re too slow transactions, said chief operating officer Stripe Claire Hughes Johnson.

Johnson openly describes the crypt impractical, and the blockchain bubble. In her opinion, the time Bitcoins will come in ten years if cryptocurrencies do live to that time. This writes NullTX.

Bitcoin is created for fraud

Company Stripe was one of the few companies who first wanted to invest in cryptocurrencies. In 2015 the beginning of the Stripe to accept payments in Bitcoin, earning popularity with, cryptocommunist. However, in April this year, the company stopped supporting the crypt because of the “too slow of a network of Bitcoin”.

At the Fortune Brainstorm Tech conference, Johnson said that not all users are willing to wait an hour to send a money transfer. We will remind, in December, some of the transactions in Bitcoins were held for five days. The delay was so great that during the transfer of coins cryptocurrency rate could seriously change.

As stated by the COO of Stripe, the best use of Bitcoin is extortion. Because of its anonymity, the crypt has gained wide popularity among all sorts of criminals and fraudsters. Johnson also questioned the prospects of the blockchain. She calls the technology bubble, far from mass adoption in the world.

The point of view of the analyst is not supported by other conference attendees. The representative of IBM Bridget van Kralingen pointed to the huge success of the blockchain in some industries. Technology has succeeded in the areas of identification of personality, control of supply and international payments.

The Kralingen said that IBM is working on the problem of high volatility of the crypts. In the future, the company plans to introduce its own stablemen, backed by the US dollar. The coin is to work on the blockchain Stellar.

Analyst Ripple Ashish Birla notes that means of payment based on the blockchain has gained great popularity in the countries of South Asia, where there is no normal banking services. In his opinion, Stripe is worth to take a look at the financial market of these countries and try to occupy its niche.

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