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Former PayPal President says Bitcoin ‘will be the native currency of AI’

Former PayPal President says Bitcoin ‘will be the native currency of AI’

As cryptocurrencies proliferate and become more popular in the mainstream, particularly the most famous crypto asset and the sector’s representative, Bitcoin (BTC), could evolve to become the native currency of artificial intelligence (AI), as per the former President of PayPal (NASDAQ: PYPL).

Indeed, David Marcus, the ex-PayPal President and current CEO of Lightspark, the platform enabling open payments over the Lightning Network, has shared his vision of Bitcoin for the future during a speech at MicroStrategy World: Bitcoin for Corporations 2024 on May 1.

Bitcoin as neutral friction remover

Notably, he highlighted the need to remove the “friction of converting non-digital money into digital money” in payments, so an accepted method would have to be “digitally native” and “maximally neutral,” specifying that the flagship decentralized finance (DeFi) asset fits the bill.

“The Europeans are not going to accept an American version of a digital asset or vice-versa. And what is the most neutral form of digitally native, internet money? It’s Bitcoin. So, if you make it super-efficient, super-fast, real-time, at the speed of AI transactions, that’s basically going to be the native currency of AI.”

Internet-native medium for value transfer

Furthermore, Marcus observed the development of AI by Google (NASDAQ: GOOGL) Translate service, as this “thing you can talk to and it speaks another language (…) using unassisted, unaided learning, [and which] came up with its own neutral language to basically translate one language to another using its own thing.”

In this context, the former PayPal President pointed out that Bitcoin could, similarly, act as a neutral medium for transfer of value over the internet, in much the same way as Google Translate’s AI is using its own native made-up tongue to transfer meaning between languages:

“So what is it going to be for value between AI agents? Definitely Bitcoin. Because that’s the neutral language of value on the internet.”

Meanwhile, the largest asset in the crypto market was at press time trading at the price of $58,714, which indicates a 1.89% gain in the last 24 hours, while it tries to reverse the loss of 7.56% across the previous seven days, and the 9.88% decline over the past month, as per data on May 2.

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