Are Skrill, Square and Circle Payment-Focused Companies Boosting Global Bitcoin Adoption?
Who is leading the Bitcoin revolution? No one, actually, if you believe that the whole point of a decentralized ecosystem is to create something that will be done by many hands. Darryn Pollock, however, believes that payment companies are driving the revolution, though, what he argued in a recent Forbes article.
According to the author, most financial companies did not take Bitcoin seriously at first. Most of them, especially banks, were simply not interested. Payment companies, however, are starting to support the technology and Square, Circle and Skrill are dominating the movement.
These companies are really starting to champion for Bitcoin and to really believe in it, the author affirms, not only as they see it as profitable, but almost ideologically, too, what can be seen when we see Jack Dorsey talking about Square Crypto. The app is not only to profit but to help the network, too. According to Dorsey, Bitcoin has the potential to improve money forever.
Square Crypto will an open-source Bitcoin project. It will not create a closed space, but an open one instead. Why would Square do it, then? Because BTC has been very profitable for the company. Square is getting a lot of money from BTC payments, so investing in the network is to invest in their own business indirectly.
Even PayPal, which is not really known for its crypto investments, is now a part of the Libra Association, the group that will manage Facebook’s new crypto. This can show how profitable the crypto world is becoming to these payment companies.
In order to get more profit, they will probably continue to invest in the Bitcoin revolution so more people will use it, possibly via their services.