PayPal CEO: More Change in the Next 5 years than Last 30

Rich Tehrani : Communications and Technology Blog -
Rich Tehrani
| Communications and Technology Blog - Latest news in IP communications, telecom, VoIP, call center & CRM space

PayPal CEO: More Change in the Next 5 years than Last 30

As the title of this piece implies - amazing things are happening in the world of technology which tie in nicely to the three more big reasons to come to ITEXPO next week in Fort Lauderdale, FL.

First up is an amazing new session titled APIs: The Future of Business. I recently spoke with a business leader who told me her company's APIs have led them to enter numerous new markets - ones that were literally unimaginable to them before they opened their platform to developers. The point is, the opportunity here is twofold. If your company has data or a service which could be of value to others, now is the time to explore how to monetize it. If you are a developer or a company looking for new opportunities to grow revenue, the new data and services soon available will give you an unprecedented opportunity to become a market leader in a  new space or disrupt an old one. This keynote event takes place Wednesday, January 27, 10-11 am.

The other two sessions focus on Money Over IP and Blockchain in Telecom.

Why are these sessions important? Because the telecom market is very similar to banking and finance. It was once bespoke and proprietary and then opened up. Moreover, many of the companies in telecom are in a terrific position to disrupt the disruption. Carriers have already become banks in some parts of the world... There is no reason this cant spread.

Moreover, bitcoin is at an inflection point - some people are saying it has failed due to the fact that the Chinese have taken control of the currency. Here is an excerpt from Mike Hearn, a top Bitcoin developer.

Why has the capacity limit not been raised? Because the block chain is controlled by Chinese miners, just two of whom control more than 50% of the hash power. At a recent conference over 95% of hashing power was controlled by a handful of guys sitting on a single stage. The miners are not allowing the block chain to grow.

In addition, Zcash will soon be a totally private currency with no way to track how it changes hands. It will be a money launderer's delight - but also great for people who don't really enjoy being part of the big data economy where your life can be investigated simply by monitoring what you buy.

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Even more exciting, Dan Schulman, PayPal CEO enthusiastically discussed the huge opportunity in mobile finance from a conference at Davos, Switzerland this morning. Apparently, no one told him to dress up. smiley-laughing

Schulman had a very insightful quote about the financial services market worth considering. I believe it applies to almost all industries to be quite honest.

We will see more change in the next five years than the last thirty.
Bottom line: ITEXPO will have amazing content and you really have to be there to take advantage of all the amazing opportunities available in the communications and technology world. In some cases this means protecting what you have and in others it means creating new value for your company, investors and shareholders.

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