• Tue. Nov 2nd, 2021

they will be used efficiently

ByHazel R. Lang

Oct 29, 2021

Count Apple co-founder Steve Wozniak as a proponent of crypto as a means of payment.

“Yes, I am in that camp that crypto will be used effectively,” said Wozniak – also a panelist on the new show.Unicorn hunters“- said Yahoo Finance Live.” We have so many digital ways to pay for things now, even to transfer money to people. It comes down to PayPal, and now we have Apple Pay and Apple Cash. We have Venmo. So the crypto just has a bit of anonymity. I don’t know if that’s true, so I can do things without people knowing. It’s hard to go back up. “

Crypto as a payment method appears to be gaining momentum lately, despite the volatility of the brand’s asset prices. Sorry, US dollar enthusiasts.

Shares of Bakkt soared earlier this week after announcing a partnership with Mastercard to offer crypto debit and credit cards. The tie-up would make it easier for consumers to pay with digital coins, according to Yahoo Finance reporter Jennifer Shoenberger.

Affirm founder Max Levchin told Yahoo Finance Live on Thursday that his buy now, pay later platform continues to explore adding crypto to the platform.

Levchin was perhaps more skeptical about crypto than Wozniak.

“While crypto and more established coins like bitcoin are part of the vernacular of the retail investment industry, I think it can orient itself as an asset class,” Levchin explained. “I’m still quite skeptical of the rapid appreciation of an asset class used as a medium of exchange. So I don’t think it lives up to the currency’s name yet, though, like us know, things change pretty quickly. “

Meanwhile, American Express is taking a wait-and-see approach.

“You’re probably not going to see a crypto-linked Amex card anytime soon,” American Express CEO Squeri said at Yahoo Finance’s all-market summit on Monday.

Where Wozniak – an engineer at heart – says crypto holds the most promise is through blockchain.

“Crypto has a huge number of promises thanks to the blockchain of different things that it can do differently than before … until the election itself,” Wozniak added. “It has a very reliable format that cannot be changed easily.”

Brian Sozzi is an editor and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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