Glen D Fogel, the CEO of American giant Booking Holdings, holds staunchly optimistic views on cryptocurrency and its course in the future of payments.
Fogel, the president of one of the world’s fastest-growing travel companies also expressed a keen interest in Facebook’s megaproject Libra in a recent interview. He states that the remarkable idea of making payments free of all the paperwork can radically accelerate the growth graphs of the respective industries. Fogel went on to add that currencies derived from blockchain will help every organization evolve particularly the ones outside of the United States.
Expressing its intent on coming onboard the Libra association earlier this year, Fogel mentioned that a globally applicable and secure digital currency is something worth having for every industry. Opinionating his views on the inclination of the younger generational towards a digitized world, Fogel also expressed their sheer abstinence from cash exchanges in the future. The future generations will rather choose to make payments with just a couple clicks on their phones.
When asked about the future of payment systems in travel, Fogel stated that along with making everything seamless, user data protection must also be prioritized for what it’s worth. Predicting that cash will no longer be used in the future, the executive said he sees the potential for a new form of global currency that is protected and secure.
The travel companies being one of the top advocates of easy and secure payment options are seen to be at the upfront while adopting the latest technologies in monetary exchanges. This becomes even more prevalent in the countries where credit cards are not prominently used.
Given the advanced security the blockchain industry offers, the every C-level stakeholder is pumped about the benefits it can offer to ease the monetary intricacies that come with international payments and keeping up the customer information security.
Cryptocurrency ever since its inception has definitely set off turbulence in decentralizing the currency exchanges without flinching against the whims of governments.
But there’s definitely a catch to entering Bitcoin safe-haven. Low volatility and stable prices are two subtle features of a reliable asset. And cryptocurrencies don’t really align with these two requisites.
But the interview with Glen has supported the counter facts with some hard and fast facts.
Now the gimmick for the industry giants as well as individuals is to watch out the surfacing cryptocurrency trends and closely note the fluctuations and monitor its stability, to make a big move.
All this, along with taking care of user security and privacy.