eBay CEO : Consider to integrate Bitcoin into PayPal

eBay CEO - John Donahoe (self publishing software) said on Tuesday that the company may open the door to the virtual currency Bitcoin is exploring Bitcoin into the PayPal payment in the network.

 

Donahoe said, "Bitcoin is a disruptive technology, so we are closely study it might be possible to Bitcoin into PayPal." Into the Bitcoin the PayPal network which can obtain the necessary orthodoxy. Currently only a small number of merchants to accept Bitcoin, the vast majority are held by speculators looking at the price fluctuations profits.

 

But Donahoe, eBay has not yet made a commitment to use Bitcoin. He said that Bitcoin is reminiscent of the music-sharing site Kazaa and Napster. Although the two sites were found to be in violation of trademark law, but brewing legitimate sites Pandora and Spotify. Donahoe believes that in the next five years, Bitcoin or other virtual currency (such as air miles), will be able to be exchanged for cash or purchase goods. To integrate Bitcoin virtual currency in the payment network, will help eBay PayPal to the store retailers, and not just for online shopping. PayPal to eBay in the first quarter of this year brought revenues of $ 1.55 billion, 18% higher than the same period last year.

 

The U.S. Treasury Department said last month that the standard Federal Banking regulations, designed to handle suspicious of dollars in remittances will also apply to the issue and redemption of network currency. This means that the issue and redeem of the Company of the network cash, will be in a in the similar to under the supervision of as the with the traditional provider remittance business Company. Transactions for more than 10,000 U.S. dollars and must be recorded and reported.

 

Recently, the New York Company called Coinsetter (http://www.flippagemaker.com/flippingbook-maker-mac/) received a $ 500,000 investment. The company will launch a bitcoin foreign exchange market, allowing people to margin-based leverage and short selling. Western Union and MoneyGram are also being studied to allow customers to use Bitcoin in the global transfer. Currently, there are few sites that accept Bitcoin. These sites include news site Reddit, the blog platform WordPress, and Pizzaforcoins.com. Pizzaforcoins.com permits users to use bitcoins to buy pizza.

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