PayPal Originally Aimed to Create Global Currency Similar to Crypto, Co-Founder Admits

PayPal co-founder Luke Nosek admits the company would have created something like cryptocurrencies if the market had permitted.

PayPal’s co-founder Luke Nosek has said that his firm initially wanted to create a digital currency that would be independent from banks and governments, similar to crypto. The video of his comments was uploaded to crypto streaming service Bloxlive.Tv on Thursday, Jan. 31.

At a panel at the World Economic Forum in Davos, Switzerland last week, Nosek was asked whether PayPal or WeChat Pay, an in-app payment system used by the major Chinese messenger, have already solved various problems related to online transactions, or whether cryptocurrencies can also solve those problems.

Responding to that question, PayPal’s co-founder said:

“Many people don’t know this, but the initial mission of PayPal was to create a global currency that was independent of interference by these, you…

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2019-02-01 08:43:00

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Written by Cointelegraph

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