The CEO of Uber has stated that the customers of the company will be permitted to utilize cryptocurrency for recompensing fares. However, the exact date for the implementation of this service has not been disclosed up till now. He also mentioned that debates over crypto are frequently occurring within the platform. As per him, Bitcoin (BTC) along with a few among the rest of cryptos can prove to be a significantly valuable store of value at present.
Uber and crypto
Apart from that, the CEO of Uber referred to the challenges like pollution as well as the exchange mechanism’s expensiveness. He added that if the exchange mechanism turns more environment-friendly and less expensive, the platform will be in a position to move forward to incorporate crypto payments and that their entire focus is on crypto. In the words of Khosrowshahi, the company contemplated embracing crypto, nonetheless, it is not a suitable time to take the action.
During the recent 24 hours, the stock value of the company (which has a cumulative valuation of nearly $68B) plunged by up to 6.52% and $35.29 is the price thereof at present. In the meantime, the CEO pointed out that there are some long-term objectives in their course of action because of the increase in anticipations regarding inflation as well as the interest rates. A few of the prominent firms have in advance begun permitting for crypto payments.
PayPal (a giant in digital payments) was among the earliest to utilize crypto across the globe. Bitcoin got onboarded by PayPal in 2014’s September. Shortly after PayPal, BTC was additionally adopted on the behalf of Microsoft in that very month at the time when cryptos were unknown to the general population.
Overstock was the initial prominent platform that accepted Bitcoin (BTC). The U.S.-based internet retailer adopted the primary digital asset approximately nine months following PayPal. As per a report that CNN published in 2018, currently Overstock has turned into a crypto firm.
In addition to the attention provided to crypto by the companies, the governments are also focusing on the asset class nowadays. In El Salvador, Bitcoin has acquired the position of being a legal tender. Several other counties such as Japan, Russia, Iran, China, etc. are operating on launching their autonomous CBDCs (central bank digital currencies).
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