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Willem Ave

๐Ÿ‘ค Speaker
See mentions of this person in podcasts
479 total appearances

Appearances Over Time

Podcast Appearances

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

And if you combine those capabilities, you get all the benefits of the Bitcoin network with the speed that Lightning provides.

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

I think it's important to have technology be as usable as possible, right?

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

Yeah, and I think it's important that we can enable those technologies as far as the specifics of Lightning versus Bitcoin and all the trade-offs.

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

I think that's for other people to talk through.

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

Not significant, no, but I believe what we want to see over time is giving both sellers and customers an option, right?

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

At the end of the day, there's not a lot of options for digital currencies or digital ways to do transactions, let's just say, that aren't Visa and MasterCard, right?

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

You have ACH.

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

kind of slow, right?

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

You have other payment mechanisms and payment rails.

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

So we just believe that it's important to offer options and sellers and customers, again, will choose technologies that are both more cost-effective, better user experiences.

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

And as long as we keep investing in that, I believe good things happen over time.

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

Can't comment specifically on the kind of number of transactions.

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

We're seeing a lot of adoption and interest in just the Bitcoin product portfolio.

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

Right.

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

So conversions is taking off a ton, which is basically taking a percentage of your sales and converting those to Bitcoin.

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

And, you know, there's a ton of excitement from a lot of sellers, a lot of customers on our very recent Bitcoin payment rail launch a couple of weeks ago.

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

ultimately you know people need to make decisions for themselves right and i think i want to build the technology so that people can make those decisions and that they don't have gatekeepers right that are making decisions for them and as long as i can do that i think it's up to those people to make the best decisions for them whether that be to sell transact etc um and i think that's kind of

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

how I think about both prioritizing products, but also kind of what we build and how we build it.

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

So I think a couple of things.

Decoder with Nilay Patel
Square's product chief on the death of the penny and the future of money

First is many countries, Canada and Australia already do this, right?