PayPal: Skips Bitcoin while clearly working on Blockchain and Cryptocurrency

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PayPal: Skips Bitcoin while clearly working on Blockchain and Cryptocurrency

PayPal: Skips Bitcoin while clearly working on Blockchain and Cryptocurrency

  • Online financial services firm PayPal believes it is too early to pronounce Bitcoin as the future of payments
  • Cryptocurrencies and blockchain technology could be disruptive and the financial services firm doesn’t want to miss out
  • PayPal’s CFO is not alone in the company’s top management ranks with regards to Bitcoin skepticism
  • Earlier this year took a swipe at bitcoin saying ‘we’re not seeing many retailers at all accept any of the cryptocurrencies
  • Last year Schulman had noted that the reason retailers were averse to accepting bitcoin was because of its volatility