David Marcus, former chairman of PayPal and CEO of Lightspark, is trying to turn Bitcoin into a global payment network. Cathie Wood, CEO of ARK Invest, talks about the convergence between Bitcoin and artificial intelligence. Wood argues this will bring explosive growth for both.
Former PayPal president: Bitcoin can turn into a global payment network!
Speaking to CNBC, David Marcus discusses Bitcoin’s potential as a “universal protocol for money on the internet.” Bitcoin has emerged in the traditional financial sector in recent months with a number of Spot Bitcoin ETF applications. These applications from traditional financial asset management companies such as BlackRock and Fidelity were especially effective. Alternatively, Marcus discusses his hope for the potential of the entity via the Lightning Network.
Bitcoin has long been the most prominent and relevant crypto asset from a mainstream perspective. But it seems to have taken a bigger step forward in recent months. Especially as the traditional financial industry seeks to tap into Bitcoin’s enormous potential. In this context, David Marcus discusses attempts to turn Bitcoin into a “global payment network”. Marcus explores the potential of the lightning network and how it can work to elevate financial transactions at mainstream scale. “What we are trying to do is turn Bitcoin into a global payment network,” Marcus said. We’re still in the fax age of global payments, and that’s what we’re trying to figure out.” says.
“There is no universal protocol right now”
David Marcus says there is a similarity between the Lightning Network and what they hope to achieve through text. In particular, he draws attention to the universality of technology that overcomes global barriers. “There is no universal protocol for money on the internet that allows value to be moved over the internet,” adds Marcus. It then questions the physical necessity of traditional finance for international wire transfers. Thus, he expresses the hope of eliminating this requirement with Bitcoin.
Cathie Wood: Bitcoin is about to witness explosive growth
ARK Invest CEO Cathie Wood believes that the convergence between Bitcoin (BTC) and artificial intelligence (AI) will lead to a meteoric rise in the adoption of both technologies. In this context, Wood says he looks at BTC and AI adoption S-curves. The S-curve is a mathematical graph that shows the rate at which users adopt a new product or technology.
Source: PhemexAccording to Wood, both Bitcoin and AI are about to reach the S-curve stage, where users are adopting technologies at an unprecedented rate. The president of ARK Invest underlines that the convergence between BTC and artificial intelligence can greatly accelerate the process. In this context, ARK Invest CEO makes the following statement:
New technologies start slowly, then gain momentum. Eventually you reach the steep part of this S-curve. I think we’re in a very similar place with both Bitcoin and AI. Both are moving towards the steep part of the S-curve. So you have S-curves that feed into S-curves and create opportunities for explosive growth potential.
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