Jack Dorsey, Twitter CEO and co-founder, proclaims that bitcoin will be the single currency for the entire world in 10 years.
"Bitcoin has rapidly evolved from being an object of fringe interest into a globally traded asset with a derivatives product on the world's largest futures market. The cryptocurrency surged from less than $1,000 at the start of last year to a record above $19,000 in December. Bitcoin was trading just above $9,000 Wednesday morning. Dorsey has become increasingly involved in cryptocurrencies. In late January, Square's mobile payments app Cash began offering bitcoin buying and selling in most states. Dorsey was also part of a $2.5 million seed financing round announced last week in Lightning Labs, a start-up trying to make bitcoin transactions more efficient."
Payment processing needs to ensure that bitcoin becomes adopted into the mainstream and newer technologies will speed up transaction times and become less costly by building off of Blockchain.
Source: www.cnbc.com
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