The co-founder and CEO of payment processing company Stripe, Patrick Collison, isn’t sure if digital currencies have a future.
“I’m very skeptical of anyone who’s adamant that crypto’s gonna work,” Collison stated at the WIRED25 conference in San Francisco on Friday.
Digital currency is presently not part of Stripe’s business model, but Collison stated firms should attempt new things, regardless of whether they have a decent possibility of failing.
Eminently, Stripe was one of the founding members of the Facebook-driven stablecoin venture Libra, but it dropped out of the undertaking a month ago. “Stripe is supportive of projects that aim to make online commerce more accessible for people around the world. Libra has this potential. We will follow its progress closely and remain open to working with the Libra Association at a later stage,” a representative from Stripe stated at the time.