🌌Crypto Corner - E13 🌌- Paypal's Patent (application)
Greetings, Crypto Nation!
Welcome to another episode of Carrie's Crypto Corner.
Today I cover...
Paypal’s Patent (application)
TL;DW (Too Long; Didn't Watch)
- March 1, 2018 Paypal applied for a patent for an "Expedited Virtual Currency Transaction System".
- The goal is to narrow the amount of time transactions take from merchant to consumer when using virtual currency.
- In the proposed Patent (21 pages, linked below), they explain a secondary wallet system, each with their own unique private keys for buyers and sellers.
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Hi Carrie Allen!
Is no one seeing the possibility of PayPal maybe trying to patent OS stuff that is used on blockchains everywhere... and then maybe trying to shut out competition? Just a thought, I know most decentralized blockchain is open source, or at least I thought it was.
School me, Teacher Lady ;)
I DO see that. 👀
And part of me is like , "NOOOOOOO!"
And the other part is like, "Isn't that what a patent is?"
I DO see a problem with patenting the ideas of HOW blockchain works. But I'm not sure that's exactly how it would happen. I mean, you can patent all sorts of things, it's meant to protect your idea, but not stifle NEW ideas.
Really... this is a hard one. I'll have to see how it starts to unfold....
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@martin.mikes coordinator of @kedjom-keku
Well, looks to be something very good. especially for overall Crypto Currency if such a huge corporation like Paypal adopts this
Yes. Just having it as an option will make more people curious about it. Plus, good on them for trying to be a part of the transition. 😍
That is awesome. Crypto could really use a win right now too.
I also use paypal regularly and it would be awesome if I could use it for crypto transactions some day.
Lol! It really could!
I used to use Paypal a LOT. I think I just mostly get things from Amazon now (lol!), but having a crypto option will definitely cause me to start using them more regularly.
Now... we wait...