PayPal: bitcoin potential is not only the payment
New York (InsideBitcoins) – PayPal think bitcoin has great potential, but unfortunately, the prospect is not clear, because the digital currency under strict supervision.
Rome leal said the biggest opportunity, probably because of its technological significance far beyond the simple payment function.
Leal in the recent North American bitcoin conference said: “PayPal obviously late, we recognize this, but we want to join them as soon as possible, so we should join in thinking through what kind of role. Is the market and StubHub may accept e-commerce virtual currency or local paypal and Braintree recently acquired payment processor ?”
Goldman Sachs report
Famous investment bank Goldman Sachs report published in March reflects this view.
“What is bitcoin?” The report said, “in short, bitcoin capital letters” B “is a peer-to-peer network, which allows the transfer and proof of ownership, without a trusted third party.”
“But, on this topic seems to end; in fact, really believe bitcoin and serious doubts have great differences between bitcoin people. Our conclusion is that bitcoin may not be used as currency, but in a sense, the ledger based technology to ensure that it still has potential.”
Bitcoin mining technology
Until May, Leal has been working at Goldman, where he co wrote a bitcoin payment research report.
“I observed today businesses with online and offline retail payment processing [Payment] the average level is 2.5% to 3.5%, which means that WAL-MART paid much less, but the family run shops to pay more, which is the balance of businesses by the use of bitcoin can be generated.”
Leal said, such as PayPal, Visa and MasterCard as well as the technology giant Financial Services Company such as ultimate concern bitcoin is the underlying technology.
Leal concluded, “they would say, ‘how can we consolidate the technology, how to make it not limited to payment function.”
The New York Department of financial services (DFS) recently proposed “bitcoin license” is just in need of legal advice is cleared in the maze wall.
“I think inside, one is many of the biggest problem we face in ten years: five years a year later, after the regulatory environment will be what kind of?” He said, “unfortunately, these are the things that make us frustrated obstacles, but they will still be our challenge. I think those clouds began to disperse, not just PayPal, more staff will be very careful with these money.”
In addition, the interests of consumers and business profits and other matters that need to be solved.
“I think that for businesses, the value position is quite clear: it is cheaper when into cross-border transactions, it is more and more important. Once you start looking for consumers, it will be a bit tricky. A credit card is very popular. We are facing the problem of mobile payment. It is not just the beginning.”