Zhao: “Cryptos will not be a payment method”
Binance CEO assured that only 0.1% of the world population owns any cryptocurrency, so its full adoption as a payment method is "unthinkable"
Binance exchange CEO Changpeng Zhao said that cryptocurrencies despite their current popularity will not become a payment method.
Currently, just 0.1% of the world population owns any digital asset, a negligible number in Zhao’s opinion, who added that it would be “illogical” to think that sellers include cryptocurrencies as a payment method.
He also gave a well-known example about the chicken and the egg, thus raising the issue of what should be paramount: the launch of the cryptocurrency or its popularization among the population.
Despite its assertions, today there are many companies in the world that work with this system in order to acquire goods and services.
Not only companies but also countries have considered opting for this means, such as the case of the United Arab Emirates, who would be willing to accept bitcoins for the acquisition of luxury apartments.
One of the main reasons for rejecting this payment method could continue to be due to its use in illicit activities for which cryptocurrencies are used.
K. Tovar
Source: dpa
