Uber’s top executive says “we are going to look at cryptocurrency such as bitcoin, as means of payments”.
The general consensus is that cryptocurrency is considered more secure than credit and debit card payments.
This is because cryptocurrencies do not need third-party verification. When a customer pays with cryptocurrency, their data isn’t stored on the blockchain, in a centralized hub, where data breaches commonly occur. Uber’s top executive says “we are going to look at cryptocurrency and or bitcoin, as means of payments”.
Uber (UBER) – Get Uber Technologies, Inc. Report CEO Dara Khosrowshahi said the ride-sharing giant would consider accepting cryptocurrencies as payment but pumps his brakes on buying bitcoin with corporate cash. Khosrowshahi said, unlike Tesla (TSLA), Uber would not buy bitcoin with the cash on its balance sheet.
“We are going to look at cryptocurrency and or bitcoin in terms of currency to transact that’s good for business, that’s good for our rides and our eaters,” Khosrowshahi told reporters, referring to Uber Eats.
Khosrowshahi is an Iranian-American businessman and was previously CEO of Expedia Group, a company that owns several travel fare aggregators.
“So that, we will certainly look at, and if there’s a benefit there, if there’s a need there, we’ll do it. We’re just not going to do it as part of a promotion.”He said.
One of the great benefits of cryptocurrency is that it can be used to exchange value between two parties with unprecedented speed. This transaction speed is unmatched by any other process currently being used in the financial markets today.
