PayPal CFO On Blockchain & Cryptocurrency
PayPal has been working on blockchain and cryptocurrency and is looking forward to taking it mainstream someday. In a recent interview with Yahoo the PayPal's CFO had to say the following:
“We have teams clearly working on blockchain and cryptocurrency as well, and we want to take part in that in whatever form that takes in the future — I just think it’s a little early on right now [on bitcoin],” PayPal Chief Financial Officer John Rainey said on Yahoo Finance’s The First Trade Tuesday.
PayPal has been pushing to grow it's business but with blockchain tech and cryptocurrencies growing on the minds of people across the world, the world's most well known payments company has shown interest in getting into this space.
PayPal does 27 million transaction per day which is just incredible. Using blockchain technology might be very useful for them. It will certainly help make many merchants and vendors comfortable if PayPal were to roll it out globally.
Bitcoin seems to coming back in its form clocking over $7500 high on Binance earlier today. The market is certainly improving with news such as Facebook working on it's own cryptocurrency, changing it's policy around ads on cryptos, Fidelity working towards offering Bitcoin trading services and more.
PayPal is probably going to retain focus on it's core businesses and take things to the next level in the following decade. Would be amazing to see them get into cryptos. We need greater adoption of digital tokens over FIAT currency moving forward.
The mobile payments giant is fresh off taking a $500 million stake in Uber ahead of an anticipated IPO this week. Rainey said PayPal made the investment because of the desire by the two companies to develop a payments platform together. PayPal has also inked a deal with Facebook’s Instagram to be its payments provider of choice for those now shopping on the platform.
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- Why You Should Vote For Firepower As Witness—Witness Campaign Post From India!
- Building A List Of Users From India—Please Fill This Form ASAP!
Very Dangerous to have a business acct with this organization. Their position on topics that involve small business customers is inconsistent. Assume anything could happen and as a competitor or subject to criticism by anyone is not, not-inviting complete loss of assets.
This announcement is a bold turn about after past assertions of authority, taking customer accounts despite full legal compliance. Bad signs of conditions ahead. Any involvement with "alternative" anything puts you at risk. If this continues, people will have to live under prohibition- bc eventually all entities that can control you- will and anything not completely mainstream- running you under the guidance of big industry - will have to exist in the black market and stay there.
Policy meaning, scope and context are subject to change at any time. Be very careful.
Waiting for that day, when we can liquidate crypto to fiat using paypal in India.
Hoping it's decentralized and can't censor by anyone. We all know that PayPal is notorious on holding, freezing and censoring your account if someone else disputing against you. No investigation is made.
Congratulations @firepower! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
I truly love using PayPal and would be curious to see how they are going to integrate with the crypto market. If they succeed they have made themselves relevant for years and years to come :-)
Interesting to see Paypal's strategy for sure.
@firepower, If PayPal enters into Crypto Space then in my opinion definitely it will going to open the flexible channel for the Transactions and definitely it will prove game changing point to great extent. Let's hope for the best.
Posted using Partiko Android
feeling sad for steem