David Marcus, PayPal President stated that the company was thinking a lot about bitcoin.
David Marcus, president of EBay Inc.’s PayPal unit, talks about mobile payment security and the prospects for virtual currency bitcoin. He speaks to Guy Johnson on Bloomberg Television’s show called “The Pulse”.
When Guy Johnson questioned PayPal President about what was his vision on bitcoin, David Marcus answered:
“I’ve been spending a lot of time looking at it! And it’s truly fascinating actually; the way that the currency has been designed and the way the inflation is built in to pay for miners and that I think it’s truly fascinating.”
For PayPal it is just a question of whether bitcoin will make its way to a PayPal funding instrument or not, and that they are thinking about it!
As always, PayPal shows a careful approach when mentioning bitcoin. However, David Marcus seems to be quite interested when he reveals to be fascinated by the amazing digital currency.
Paypal’s President says the company is more concerned with security at this point. PayPal takes the security of their millions of customers very seriously. David Marcus is convinced that is the main reason they choose to deal with Paypal. So, their most important milestone for now is related to mobile payment security.
Keeping data secure is really critical and the company is looking to implement new technology that will eliminate the need for passwords using biometric data. This new technology will offer a similar approach as do other second-factor authentication systems, granting higher security to Paypal’s customers.
The company already deals with bitcoin through their subsidiary Braintree indirectly. Now it looks like Paypal has been spending too much time looking at Bitcoin and recognized that the digital currency was already on their horizon. Introducing second-factor authentication technologies may be a guess that the company is already preparing to introduce Bitcoin.
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