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Dan Schulman said in an interview with CTech, CEO of online payment giant PayPal, on March 14 that he underestimated the price fluctuations of cryptocurrencies and positively evaluated the utility of cryptocurrencies and blockchain technology for payments.

Dan Schulman said, " Everyone has the most original ideas about cryptocurrencies, such as when to buy and sell them, and how much —— bitcoin will be tomorrow. This is the least interesting part. What is really exciting about cryptocurrencies is what utility they can provide in payments.The intersection between the CBDC (central bank digital currency), stablecoins, digital wallets, and enhancing the utility of payments through cryptocurrencies is not only fascinating, but will redefine many areas of the financial world of the future.”

Notably, Dan Schulman has long been a supporter of cryptocurrencies, leading PayPal, which has allowed users to buy, sell, and hold cryptocurrencies through its apps since October 2020.Currently, digital assets supported on PayPal applications include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Letecoin (LTC).The feature is available to PayPal's customers in the US and UK, while the company is exploring the potential of digital currencies through collaboration with compliant cryptocurrency platforms and banks.

Dan Schulman will also discuss technology in the financial community as a keynote speaker at the Axis Tel Aviv conference in late March.Each year, the event gathers startup founders, venture capitalists and key people from around the world to discuss fintech, new technologies and investment opportunities.

Another prominent figure with Dan Schulman is Galaxy Digital CEO Mike Novogratz. Last week, he predicted that encryption and blockchain technology would "reshape the world in ways that one cannot imagine."In addition, he believes that President Joe Biden's executive order on cryptocurrencies will be good for the industry, as it could help the United States become a global leader in crypto.

Last week, Ethereum co-founder and ConsenSys founder, Joe Lubin, discussed NFT and its potential impact at a Camp Ethereal 2022 conference, calling the technology "an important invention that can reshape the industry and a profound innovation in computer science."

NFT has been a hot spot in crypto since its global hit early last year, attracting celebrities and sports stars, generating $25 billion in transactions in 2021.The NFT works similar to blockchain-supported receipts, and is often used to prove ownership of digital items such as art, collectibles, and interactive video game items.As an immutable record on a decentralized ledger that does not require intermediaries, NFT may have more practical uses (such as real estate) and transform existing industries.

Currently, blockchain is transforming the island era into a community era, and NFT is first widely used in entertainment and content as creators use the technology for digital illustrations, profile pictures, sports and brand collectibles, as well as characters and items in blockchain-driven video games.

More and more industries are beginning to accept blockchain and NFT assets, and NFT and blockchain technology initially have the potential to counter the current social media giants. PFP (profile pictures) and similar digital structures will enable people or groups or DAO to essentially liberate their social maps from the network.This could be a factor in Web2 evolving into a metaverse, where social maps and digital assets must be interoperable and truly owned by the user, ultimately forming a user-centered metaverse.

*The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of SparkDAO. Every investment and trading move involves risk, you should conduct your own research when making a decision.