David Marcus from Facebook expressed concern over the current payment structure in the USA and also provided details on the launch of Digital Crypto Wallet, Novi.
In new publishing from the Medium, Crypto Pro of Facebook, David Marcus has expressed his opinion on the economic situation, weak regulations, and the launch of a brand-new crypto wallet, Novi, designed to work out with the Diem Payment System.
Novi Crypto Wallet Details
Having a connection with the Diem, the Novi crypto wallet is intended to help many individuals and companies, making it easy to transfer any sort of digital payments worldwide, bringing evolution to the very much old traditional systems of Payment, and bringing something new to the table. Marcus claimed in a very bold fashion that Novi will enable free payments for one person to another, both locally and at an international level.
Adding to that, Novi will soon need to support NFTs, and that traditional contracts will be converted into smart contracts, boosting the potential of Novi to unmatched levels. As of now, Novi is in the works with regulatory authorities to gain approvals from all of America and also to hold an official registered license to operate. Any specific launch date of Novi still hasn’t been shared, but Marcus has said that delaying the launch will only hurt Novi instead.
Lackluster Financial Evolution Progress
David Marcus highlighted some very important and critical points, which greatly support his cause. Marcus David mentioned that nearly 1.7 billion people worldwide don’t have access to a good banking system, meanwhile talking about the USA, nearly 62 Million American people are still being crippled by the current banking system, which is stopping them from achieving the true potential of finance, bringing hindrance to progress and evolution.
Marcus greatly raised concerns over the lack of interest by regulatory authorities and policy issuers in working out cryptocurrency and letting it become something that is mainstream. Marcus said that the payment infrastructure in the USA is very much pathetic compared to other modern countries like China, which are greatly working to bring the Digital Yuan to the public and making it very much mainstream. A higher-up from Ripple also shared the same opinion just recently, when he said the USA is falling behind other powers when it comes to the evolution of the traditional financial system.