Bitcoin will bring global payments out of the ‘fax era' — Ex-PayPal boss
Marcus said there’s still no universal protocol when it comes to transferring money, unlike information which can be shared via email. While information today can be easily transferred over the internet via email or text, global payment s on the other hand, have remained in a “fax era," according to the former president of PayPal. In a Sept. 11 interview with CNBC, the former PayPal executive and co-founder of Bitcoin Lightning-focused payment service Lightspark said he believes Bitcoin's Lightning network could solve the cumbersome process of sending money across jurisdictions. “If you were to stop [someone] and wanting to communicate with them you could ask them for an email address and you can email them easily the next minute [and] you could text them,” said Marcus. However, there’s no universal protocol when it comes to transferring money over the internet, he said: “If you were to send them money [but] they were not a U.S citizen here using one of the same fintech ...