When in 2015 the provider of a digital payment company Stripe has introduced a tool that enables merchants worldwide to accept payment in bitcoin, what was the evidence of the growing acceptance of cryptocurrencies. But in April of the current year the company ceased support of the application citing its uselessness.
CEO of Stripe Claire Hughes Johnson (Claire Hughes Johnson) at the conference, Fortune Brainstorm Tech explained that the reason for the refusal of service was the fact that bitcoin and other payment services on the basis of the blockchain is slow, impractical and overpriced.
According to her, the transaction confirmation in the Bitcoin network is around an hour, and in December last year reached 3-5 days. The delay was so long that the merchants had to register a new transaction to account for the difference in price that formed between purchase and payment.
As the head of the Stripe, it is not clear, is there any main purpose for bitcoin and other cryptocurrencies.
“The main application (killer app) to bitcoin today — it’s ransom”, with sarcasm she said, pointing to the use of cryptocurrency to hacker attacks blocking of information on the victim’s computer.
Inherited from Johnson and blockchain technology, which underpins bitcoin. The blockchain is a duplicate of existing database tools, many of which are evolving rapidly, she said. In her opinion, in the next ten years, the blockchain will not be able to dominate in this area.
“I really think we have reached the peak of popularity, when all just saying “Yes, Yes, Yes-the blockchain,” said Claire Hughes Johnson.
She added that the SEC is right, paying attention to the industry to check the blockchain projects.
Recall that a well-known critic of bitcoin Nobel laureate in Economics Professor at new York University ‘s Nouriel Roubini (Nouriel Roubini) believes that the blockchain can be used in areas where there can be a compromise between speed and verifiability, for example, in control systems for UAVs.
It is noteworthy that aerospace giant Boeing announced on the eve of the early developments in this direction.