PayPal Is Closely Watching the Crypto Word
PayPal, as one of the largest companies that offer international payment services, is most worried about the advent of cryptocurrencies. If Blockchain were to become prevalent among different countries...
PayPal, as one of the largest companies that offer international payment services, is most worried about the advent of cryptocurrencies. If Blockchain were to become prevalent among different countries, this renowned company would greatly be in trouble. Since each day, the number of crypto-followers increases, PayPal has formed a research team to investigate and analyze cryptocurrencies.
What Is the Stance of PayPal Toward Blockchain?
PayPal intends to enter the crypto market by a precise analysis of Blockchain and cryptocurrencies. Senior managers at this company indicate their interest in joining the crypto world and have announced that they are willing to pay attention to the possible changes in the payment and currency world and prepare themselves for the coming changes. It seems that PayPal, before being a flexible company that aligns itself with changes, is an organization that has no alternative but to agree with new technologies. Many of the companies that have similar activity basis as PayPal have long been aligned with the world of Blockchain and cryptocurrencies and have legalized digital assets. However, the measures of PayPal have been rather conservative.
Is PayPal Afraid of Everything?
The structure and capacity of Blockchain is in a way that if it is employed by the public, it will run PayPal to the side completely. For example, the possibility of making transactions with cryptocurrencies such as Bitcoin in the infrastructure of Blockchain happens on large scales. These large scales make users to turn toward using a system that in addition to providing suitable features, has good security as well, while PayPal considers a lot of restrictions for the maximum of transactions and money transfer. In fact, security analyses that are done via different channels and the limited amount of money that PayPal allows to be transferred turn PayPal into a complete loser compared to Blockchain and cryptocurrencies such as Bitcoin.
What Is the Advantage of Blockchain Compared to PayPal?
PayPal is able to block accounts. According to security, political, and other reasons, it is possible to hold onto the currency and money and the inability of the receiver in receiving his assets. However, Blockchain is a free and decentralized network that continues its work free of any type of censorship and surveillance. For this reason, these two infrastructures in comparison with each other, are in different places, and it should be said that in this comparison, Blockchain has much more to say. Also, the transfer fee that PayPal requires for each transaction is much more than what Blockchain requires for exchanging cryptocurrencies.
However, the story does not end here. PayPal, as different countries and banks accept a reputable, international infrastructure all across the world. However, Blockchain still needs to go through some challenges to gain legitimization, and it only has one way to come out the other end successful. This solution is nothing but collaborating with companies such as PayPal that through going along with new technologies, provides the possibility of getting the world to an ideal solution for payments and communications.