Back

Pro-Bitcoin Billionaire Chamath Palihapitiya Gives Advice to Payment Systems

News
Wed, 07/01/2020 - 12:19
Vladislav Sopov
Legendary investor, CEO of Social Capital and chairman of Virgin Galactic, Chamath Palihapitiya, revealed how payment processors can boost mass adoption of digital money
Pro-Bitcoin Billionaire Chamath Palihapitiya Gives Advice to Payment Systems
Cover image via en.wikipedia.org
Contents

According to the investment sphere veteran, cross-border remittances will see adoption once the main providers manage to build interoperable systems with intuitive user interfaces.

One-click payments

Mr. Palihapitiya revealed samples of how proper payment processors operations should look. He brought three invoices for Paypal's VenMo, Cash App and Zelle as examples.

Chamath Palihapitiya says interoperability is inevitable for payment processors
Image via Twitter

According to this draft, a payment voucher for cross-border remittance can need only a few symbols. Such a level of interoperability and intuitiveness should be achieved by the shared efforts of all big processors.

It should be noted that Mr. Palihapitiya is a vocal Bitcoin (BTC) proponent. Recently, he claimed that everyone who didn't buy the king coin would regret it.

In a recent interview, he outlined that he isn't interested in the euphoria surrounding the DeFi segment since he owns Bitcoins (BTC). As previously covered by U.Today, he was lucky enough to buy the king coin at $100.

One step towards interoperability

In the comments below Mr. Palihapitya's post, many soldiers of the XRP Army announced that such a system has already been launched by Ripple, called PayID.

This system allows cross-platform remittances through the simplest interoperable addresses, Payment IDs. This system was promoted by Ripple Inc. in a recent dedicated conference.

Ripple CTO David Schwartz also highlighted that this system can help digital assets avoid taxation and accounting problems. 

Related Ripple CTO David Schwartz Reveals Benefits of PayID. Which is Most Important?
Related
Ripple CTO David Schwartz Reveals Benefits of PayID. Which is Most Important?

The CEO of Ripple, Brad Garlinghouse, insists that with PayID, cross-border money transfers become as easy as e-mail messaging.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)