In an interview with CNBC, Schulman spoke candidly about his views on cryptocurrencies and what he perceives as their shortcomings.
“We’re not seeing many retailers at all accept any of the cryptocurrencies,” he said.
He also, however, expressed some interest in blockchain technology as a whole, adding that he thinks “the underlying technology is still very interesting.”
He made his position between cryptocurrencies and what he sees as the more fundamental technology very clear, claiming, “I have always thought that crypto was more of a reward mechanism for implementing blockchain [technology], as opposed to really a currency.”
This stance should come as no surprise, as Schulman said that the volatility of cryptocurrency makes it “unsuitable” for retail use last year. His recent comments have still made some waves in the industry, however, because of the seemingly natural symbiosis between services like PayPal and cryptocurrencies.