PayPal to Expand Into Cryptocurrency Market?

Written by:
Published on:

A recent patent filing reveals that Paypal might be considering expanding its exposure to the cryptocurrency ecosystem with a new system for speedy transactions, News reported late Monday. Scroll Down for More

There is currently a race to file patents pertaining to cryptocurrencies and blockchain, so this could be a matter of PayPal strengthening its portfolio for future patent battles....or.

The filing of a new patent application for an “expedited virtual currency transaction system” with the US Patent and Trademark Office could mean PayPal is indeed diving deeper into the world of cryptocurrencies.

How it Would Work

The system described by the patent application is meant to work by creating secondary wallets that each include a respective secondary wallet private key, and a transaction is performed using the primary wallet private key to transfer different predefined amounts to each of the secondary wallets. When an instruction is received to transfer a payment amount to a second user, they are allocated a subset of the first user’s secondary wallet private keys that together contain cryptocurrency that equals the needed amount.

More From News

Ripple Soars Then Plunges off Coinbase Rumors – Again - For all the work Ripple have done in seeking to develop Middle Eastern partnerships and persuade banks to trial their cryptocurrency, it seems to have had little impact on price. At the mention of Coinbase, however, the coin embarks on a rapid ascent that puts other altcoins in the shade.

Read More Here

BTC Transaction Volume Reaches Two-Year Low - The seven-day average for the number of daily bitcoin transactions has reached a two-year low, recently dropping below 160,000 for the first time since March 2016. The lull in transactions coincides with the weekly volume of bitcoins exchanged through peer-to-peer (P2P) trading volume on Localbitcoins recently dipping below 6,000 for the first time since February 2014.

Read More Here

- Aaron Goldstein,

Business/Financial News

Canada Tech Entrepreneur Bashes Bitcoin Cash Before Committee, Reddit Community Furious

Speaking before Canada’s House of Commons Standard Committee on Finance Tuesday, Canadian entrepreneur Jonathan Hamel warned: “Pay close attention, other cryptocurrencies are downright scams, like BCash [Bitcoin Cash (BCH)].”

Abra Wallet Adds Support for Bitcoin Cash, Other Cryptocurrencies

Abra Wallet Adds Support for Bitcoin Cash, Other Cryptocurrencies

Abra Wallet is the latest platform to incorporate the 4th most popular digital coin Bitcoin Cash.  The Abra app is available for both Android and iOS devices. 

Hardware Cryptocurrency Wallet Demand Grows in South Korea

Hardware Cryptocurrency Wallet Demand Grows in South Korea

According to local reports in South Korea, demand for hardware wallets is increasing exponentially. The demand has stemmed from attempted hacks last year against domestic trading platforms like Upbit and Bithumb.

Alt-Coin Bear Market Largely Over Claims Expert

Alt-Coin Bear Market Largely Over Claims Expert

Speaking to Bloomberg News Tuesday, Fundstrat Global Advisors LLC suggested that the alt-coin bear market is mostly over and this is illustrated with his firm’s measure of alt-coins showing a sharp 75 percent decline in the group over the past 64 days.

eSports Reward Token (ERT) to be Listed on HitBTC Exchange, ambitious project to become the leader in the eSports industry, announces its token issuance on one of the top CryptoCurrency exchanges, HitBTC (