If PayPal is smart they will follow the below path to get as many people outside the USA into this Bitcoin and PayPal plan as the possibly can, for the simple
reason of 'Adoption of BTC will help the folk that don't have banks!'
1) They get accounts from folks without 'legit' or any Banking throughout the world, no checking accounts and that kind of thing. They with the BTC
option in a place with 'high inflation' on their nation's $$$ and such...get an account of some type. Maybe thru coinbase and its debit card operation of
a real USA bank. They still have no real credit rating for credit card etc? But if PayPal is smart that won't matter.
PayPal should set this up so that the 1st step is that you have BTC bought thru PayPal and in your account. In that the security is in the Bitcoin itself..PayPal
could say with such and such amount of Bitcoin, you have such and such access to use on Amazon, or whatever. From there, again, if PayPal wants to
take over the world like Amazon, they would then 'offer' on your BTC purchase history and or amount of BTC kept on hand in maybe, offer you the next
tier up as to offer you checking and banking through paypal..with your passport and KYC etc...thus now they also are your bank.....then after that, if I
was them...it would morph into offering services with KYC as an exchange. So the 'great unbanked' in the world could use Bitcoin to prove their credit
bona fides to get such banking and maybe exchange services with KYC without the worry of local banking in dubious countries or having banking first
or having credit card etc..they could simply 'progress' upward thru a PayPal path to get all of the above. In that Bitcoin security is in the Bitcoin..not your
credit history (or lack thereof) this is a plan. The people using this PayPal option to go up the chain above (sorry rough but you get the idea) they know
that PayPal is 'likely' more legit than their countried 'dubious' banking system so they feel secure as well.
This has to be the plan, indeed it is the way Coinbase for example guided my upward process to give me too much money and credit to use on their
platform over time. I can't see how something can't be done like I said above, (probably better explained then I did) and PayPal through Bitcoin/Crypto
could just 'wrap' up a whole mess of new adoption into the world finance system 'directly' and increase BTC/Crypto adoption massively. Also from
PayPal's point of view..all them lovely fees going in/out and around.
Anyway, above is rough idea...but this should be do'able IMHO if PayPal is 'farsighted' enough to go
down this path. Otherwise, why the heck did they take BTC/Crypto unless they got some or all of the above involved as a long term plan?
remember I'm clueless...but how it looks to me.
I also 'believe' that like Viemo the service PayPal has money in and now will become the PayPal BTC/Crypto wallet..it to started out not letting BTC/Crypto
in and out directly. I think that also will change. Of course, if PayPall really, really does (got a BTC woody on this) buy BitPay..well crap...all heck will break
loose!
Again, rough sketch above of how it might work without my knowing zip about adequate safeguards.
Brad