Here's how Gnosis Pay plans to bridge the gap between onchain and off-chain payments

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The Block2024/02/02 08:01

By:The Block

Quick Take Gnosis co-founder Dr. Friederike Ernst shares how Gnosis Pay is integrating traditional and crypto payment rails to enable crypto payments for everyday spending.

Here's how Gnosis Pay plans to bridge the gap between onchain and off-chain payments image 0

Episode 4 of Season 6 of The Scoop was recorded with The Block's Frank Chaparro and Gnosis Co-Founder Dr. Friederike Ernst.

Listen below, and subscribe to The Scoop on Youtube , Apple , Spotify , Google Podcasts , Stitcher , or wherever you listen to podcasts. Please send feedback and revision requests to [email protected] .

Dr. Friederike Ernst is the co-founder of Gnosis and Gnosis Pay.

In this episode, Dr. Ernst shares how Gnosis Pay is working to bridge the gap between on-chain and off-chain payments, and how the upcoming Gnosis Card will allow users to spend their crypto at over 80 million VISA merchants worldwide.

Although crypto payments for everyday transactions have yet to penetrate the consumer market, Dr. Ernst says it's only a matter of time before traditional financial services move onchain:

"In 5 to 10 years, I am pretty certain that most financial rails were run on blockchain technology just because it's much, much more efficient than the current stack."

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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