Cryptocurrency News Today: Stripe CEO Patrick Collison on Crypto, China, and Fixing the Web
Patrick Collison, cofounder of online payment system Stripe, thinks that even with its wide-ranging and well-documented problems, the internet is still amazing.
“The key question—why aren’t things getting better faster?—is something that we should be totally obsessed with,” he said.
Collison talked about the state of the web—and the financial world—during a conversation with WIRED editor-in-chief Nicholas Thompson at the WIRED25 conference in San Francisco on Friday.
Stripe facilitates online payments between consumers and businesses. Companies used to have to partner with vendors and banks in order to process credit card payments. But with Stripe, a company can stay more nimble by offloading its whole payment process to Stripe’s cloud-based system—for a small fee, of course.
In 2010, Collison and his brother John forged Stripe in the belly of famed Silicon Valley startup accelerator Y Combinator. Since then, the startup has become a payment heavyweight. More than a million companies use its platform, and Stripe is valued at $35 billion.