The focus around Circle China is really cross-border payments. If I'm a parent in China and my son is studying at London Business School, I might want to send 500 RMB. I should be able to do that and have my child instantly receive it as pounds sterling, in the same way people do that with instant messages today.
For merchants, it is an amazing opportunity. Compared to Paypal, crypto has no credit card fees, no charge backs, no 'Oops, we decided to hold your cash for 3-12 months while we investigate something we can't disclose.'
Twitter was around communication and visualizing what was happening in the world in real-time. Square was allowing everyone to accept the form of payment people have in their pocket today, which is a credit card.
We'd love to see a world where Venmo added support on the blockchain, then a Circle customer could pay a Venmo customer using their QR code or their blockchain address - and go between those instantly and for free.
The big idea of, 'Hey, I can pay anyone, anywhere, with whatever digital wallet they have, and it just flows around the Internet' - that's on the horizon; that's how we built everything we do.
The same way we can send and receive an email with anyone, anywhere, for free, or we can share a photo with anyone instantly for free, money will become these digital tokens, and we'll be able to do that with money.
Mobile devices, high-speed data communication, and online commerce are creating expectations that convenient, secure, real-time payment and banking capabilities should be available whenever and wherever they are needed.
Low-value payments are now possible. Now, Ripple can make it easy for Facebook and Uber and Amazon to make payments to developers in real time. It's online and completely global.
