Ex-VeriFone Exec: Bitcoin Isn’t Just Another Crazy Payments Idea
Despite the cautious stamp of approval bitcoin has received from emerging payments giants like PayPal, Square and Stripe, many in the traditional payments industry are struggling to understand bitcoin and the strength of its technology.
However, perhaps more crucially, former VeriFone CFO, current Tanjarine president and new BitFury board member Bob Dykes believes that the payments industry is struggling to separate bitcoin from the scores of new payments technologies that have emerged in the last decade.
Dykes chooses to view bitcoin and its road to mainstream adoption through this lens, noting that the payments industry has seen the rise and fall of a number of technologies – including QR codes and near-field communication (NFC) – that have promised to bring disruption and change overnight, only to be met with a long road to adoption or a cold shoulder by the industry.
As a result, Dykes told CoinDesk, the traditional payments industry is struggling to see how bitcoin will be able to gain wider adoption:
This post was published at Coin Desk on October 1, 2014.