BITCOIN IS FULFILLING PAYPAL’S ORIGINAL VISION

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PayPal has come in for fresh criticism as commentators renew claims the company has all but failed in its mission to transform money usage.
PAYPAL SLIPS UP IN TURKEY


Now, amid reports of fresh account freezes in order to bend to regulatory demands in some jurisdictions, cryptocurrency industry figures are more skeptical than ever of the company whose original remit was to break down borders associated with payments and give consumers borderless freedom.
“PayPal’s original vision was to prevent governments from doing exactly this,” Messari CEO Dan McArdle tweeted August 14 in response to PayPal’s admission it had blocked access to customers from Turkey.

“We have no choice but to suspend processing payments in your region. We will continue to seek to obtain the necessary approvals to enable us to recommence PayPal services in Turkey in the future,” the agent explained.
Responses to the message quickly turned to suggest those affected use Bitcoin instead.
…BUT BITCOIN STILL TOO ‘VOLATILE’

“The technology, there is real merit to it,” Rainey had told the WSJ.
I do think, though, it will be years down the road before we see the kind of ubiquity and acceptance that make it a form of currency that is used every day.
PayPal has previously faced unforeseen regulatory hurdles both in Turkey and elsewhere.

Contrasts with Bitcoin meanwhile continue in the form of PayPal’s corporate timeline; having been bought by eBay, the acquirer dropped it as its payment partner in favor of Amazon’s Adyen.
https://bitcoinist.com/bitcoin-paypal-original-vision/

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