Abra Crypto Exchange CEO: “One Bitcoin Today is One Bitcoin Tomorrow” Fungibility Matters
Bitcoin (BTC) Remittance And Future Discussed By Abra CEO
Bill Barhydt, the CEO and founder of Abra, a crypto exchange, has recently decided to talk about Bitcoin during a conference. He talked about the history of the fiat currencies, their multiple failures and all the potential that Bitcoin has to create a big revolution in the financial market.
The CEO has compared the invention of Bitcoin (and the blockchain technology) to the invention of the internet and affirmed that it has the potential to erase many business sectors from the face of the Earth with its efficiency. He cited that many businesses like bookstores, magazines and video rental stores are now transformed or obsolete because of the technology.
This, he believes, is how the blockchain technology has the potential to change the world. This new asset can completely change how we look at money and define a whole market. Bitcoin did not exist 10 years ago and now it may be very important for the future, as its fungibility is one of its main characteristics, despite its volatility.
He has affirmed that when you forget about the market swings, the main character is that one bitcoin today is one bitcoin tomorrow despite the prices and that the price of the Bitcoin in dollars does not matter. According to him, bitcoin can be very important for cross-border payments, decentralized investment and asset financing.
The CEO has also dived in the matter of how Bitcoin and the blockchain will be able to change the fintech sector and that, on his perspective, money transfers will become instant and almost free. He affirms that some services in development are making huge efforts to make Bitcoin and cryptos even faster and that people will use them for transactions without even knowing that they are doing it.
Finally, he has also mentioned the potential of the token in cross-border transactions as you can use it to send money quickly without having to wait a lot. Certainly, the future seems to be bright despite the fact that Bitcoin is not currently able to do that yet, so we can only hope.