[2018-03-05] PayPal Is Seeking Faster Crypto Payments Tech

[data_teks]

PayPal is eyeing a way to boost the speed of cryptocurrency payments, a newly-released patent filing shows.

An application for an "Expedited Virtual Currency Transaction System" published on March 1 by the U.S. Patent and Trademark Office (USPTO) details a method by which private keys - the strings of numbers and letters used to transact or otherwise control one's cryptocurrency holdings - are swapped from a buyer to a seller behind the scenes.

https://www.coindesk.com/paypal-eyes-instant-crypto-payments-tech/

[dbers79]

I would love it if PayPal will do some adjustments on their policies to allow for more exchanges to do transactions with them at lower transaction fees. It's sad that most legit exchanges do not offer the option for transactions to be done through PayPal or if they do, they and PayPal will charge you exorbitant fees for the privilege.

[CryptoBry]

I am happy that PayPal is really cooperating and working with cryptocurrency instead of fighting it. I am seeing a future where PayPal will continue to be relevant and not be effected by changes in the payment industry. Hope this innovation that PayPal is introducing can really be helpful which means that PayPal holders would be so happy for this. To those who are thinking that PayPal will die because of cryptocurrency the answer is a big NO because PayPal knows the changes happening around and they know how to fit in to make their business survive and flourish into the future.

[1Referee]

It's all nonsense, all they are doing is seeking to "solve" a problem by further centralizing the way people transact, and that while LN already allows you to transact instantly and basically for free in comparison to current fees. Seriously, what's the point of using Bitcoin through centralized platforms to pay for goods, when you can just continue paying for goods with fiat? Nah man, I am all for an environment that isn't based on more control by corporations, and PayPal's patent doesn't contribute to that in any way. While some people seem to be happy with this non development (patent), I see it as yet another attempt by a corporation to further centralize this ecosystem. LN is going to be the biggest adoption/usage booster Bitcoin has ever experienced.