At the 2022 Dubai Blockchain Economic Summit, Cointelegraph spoke with Codego CEO Simon Binotto Toure about crypto cards. During the call, the CEO claimed that one of the catalysts for wider adoption is the easy ability to make purchases with your crypto via a credit or debit card.
Even with Web3 use cases popping up left and right in the room, the ability to use cryptocurrency to make purchases in stores and physical stores remains one of the most important applications for digital assets, according to Torre.
Simon Binotto Toure at the Dubai Blockchain Economy Summit 2022
Highlighting the importance of owners being able to easily purchase goods and services using cryptocurrency, the executive noted that building a banking platform that allows cards to automatically convert cryptocurrency to fiat is important to society, and this is what the team wanted to focus on . on. He said:
“This is important because users will have the ability to use in real life. […] We are, of course, creating this bridge between the world of crypto-virtual assets and the real world.”
Aside from crypto cards, the CEO also commented on the current state of the crypto space and urged the community to be patient during this time. Torey said it is very important to be patient while investing in a bear market. It is to explain:
“The original concept of cryptocurrency, which was like investing and then holding, in my opinion, is a little lacking. So people want to speculate, but for me it’s time to invest and just be patient.”
When asked about the current status of crypto card providers within the blockchain space, Toure replied that there are still many limitations. He explained that some parameters such as geography can make it difficult for cryptographic cards to have wider adoption.
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The CEO also highlighted the importance of crypto cards that support smaller cryptocurrencies and don’t just focus on big names like Bitcoin (
) Code. Torre believes that this will give users the opportunity to use the lesser-known cryptocurrencies and keep the more popular ones they don’t want to give up.