David Marcus, former President of PayPal, spoke about Bitcoin on a recent appearance with CNBC's Squawk Box, envisioning it as a global payment system. 

As the CEO of the Lightning Network infrastructure company, Lightspark, Marcus stressed the need to expand Bitcoin's utility beyond a store of value.

During the conversation, he pointed out the immense progress Bitcoin has achieved in the last ten years, transitioning from an unknown digital asset to a widely acknowledged inflation hedge and store of value. 

Marcus believes that Bitcoin can assume a more pronounced position in the global financial landscape.

He suggested that Bitcoin could potentially emerge as a global payment system, similar to PayPal, but founded on Bitcoin's decentralized infrastructure. 

Marcus emphasized the urgency for Bitcoin to evolve further by offering faster, cheaper, and more efficient transactions, making it more universally appealing.

As Lightspark's CEO, Marcus is committed to unlocking the Bitcoin Lightning Network's full potential. "Because it’s time for the world to have a universal open protocol for payments," he added.

Bitcoin's scalability has been a topic of concern for years, but a number of emerging companies are addressing these concerns.

Regulatory challenges are another formidable barrier. Global governments are analyzing the Bitcoin sector, resulting in a spectrum of regulatory responses. 

Marcus recognizes the significance of collaborating with regulatory bodies to establish Bitcoin's credibility and compliance as a global payment method. Despite technical and regulatory challenges, Marcus and many others see the potential of Bitcoin as a decentralized global payment system that could transform the financial sector.

Share this article
The link has been copied!