[WATCH] Eric Benz on the transformative power of crypto

Category: Payments
Posted by AIBC Group

Eric Benz, CEO of an instant cryptocurrency swap platform Changelly, sits down with AIBC Summit to discuss the mass adoption of cryptocurrencies amongst some of the world’s largest corporations

The whole world suddenly has crypto fever! Governments, investors, major banks… will digital currencies soon replace traditional ones? Who better to shed some light on the situation than one of the original Bitcoin pioneers and current CEO of Changelly, Eric Benz.

Crypto’s transformative power

With Tesla and Mastercard onboarding crypto into their business models, is Apple about to follow suit?

Undeniably, gaming and casinos acted as a catalyst for crypto payments. Now, we observe industry giants such as Apple, Tesla and Mastercard tapping into the crypto sphere in bid to get their slice of cake.

With Mastercard recently announcing their plan to give merchants the option to receive crypto payments and Tesla’s massive investments into Bitcoin, Fortune 500 company Apple is expected to follow suit.

Benz shared with AIBC that:

Apple hasn’t decided to do anything yet but the signs are clear they probably will, it’s a matter of time.

Bitcoin’s market cap is actually a quarter of the size of Apple’s entire market cap. So, it’s still very minute and small in the scale of things. Apple deciding to go into Bitcoin, maybe it’s a bit of noise,  maybe it’s actually because they want to integrate Blockchain and  cryptocurrency into their entire ecosystem.

When asked about the implications of recent movements,  especially in light of industry giants in the crypto sphere, he answered:

This whole movement, this whole growth cycle that a lot of businesses have been experiencing in the crypto industry has been so exciting and so empowering for us who have been involved for so long to get that validation and start onboarding more users and being able to launch better services.

With growing calls for a complete reformation of the current outdated financial infrastructure, could Bitcoin become the world’s new reserve currency?

According to Benz, cryptocurrency will become the the world’s new reserve currency and will play an essential role in developing countries with restrictive financial infrastructure.

Technology is our path to global financial freedom and we need to continue to innovate and we need to continue to implement those technological innovations to make our world a better place. At the end of the day, like we see right now, it’s not the people that are the problem, people are amazing, it’s the system and the system is broken.

The only way that [less fortunate individuals] are gonna get access to this new financial decentralised ecosystem is with blockchain, and digital assets, and cryptocurrencies and businesses that continue to strive to provide innovative isolations to improve their lives and improve the world.

WATCH the full video below:

About AIBC:

AIBC Summit is a global expo covering topics relating to the global sectors for blockchain, AI, Big Data, IoT, and Quantum technologies. The event includes conferences hosted by globally renowned speakers, workshops for industry learning and discussion, an exhibition space accommodating more than 400 brands and a number of networking events.