Booking.com CEO claims high potential of cryptocurrencies in the payment market

Glenn Vogel, recently appointed executive director of the popular Booking.com online hotel booking platform, believes that cash will be used less and less in the future and will be replaced by a new form of global currency. He said this in an interview with the Skift portal.

We were talking about cryptocurrencies in the context of the digital currency Libra, which Booking.com joined at the same time as payment giants Visa and Mastercard.

Glenn Vogel, CEO Booking.com

Speaking about the currency of the future, Glenn Glenn Vogel emphasized that it should first of all be “seamless”, in addition, information security should be put at the forefront.

“You can create the most advanced payment technologies and solutions, but if people are not convinced that their information is protected and safe, we will go in the opposite direction, ” he said.

The future of payments, says Vogel, is primarily the widespread use of mobile phones and the rejection of cash. According to him, today it is already possible to make payments from mobile devices using fingerprints or scanning a QR code, but the process is still very fragmented.

“I see the potential in a new form of global currency that will be safe and secure. When bitcoin became widely known, many began to wonder about its legitimacy. Disputes regarding its future continue, but I think that blockchain-based currencies will appear. Many of them will be widely accepted all over the world, especially outside the USA, where a well-functioning credit card payment system operates, ”says the head of Booking.com.

Note that Vogel’s predecessor as head of the company, Gillian Tens, had previously expressed support for blockchain technology, which, according to her, could make the portal easier to connect with landlords and tourist attractions, which ultimately will bring benefits to customers.

Recall that earlier this year, the Celo mobile cryptocurrency payment project, with the support of venture firms Andreessen Horowitz and Polychain Capital, raised $ 25 million in investments .

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