PayPal has filed a patent for facilitating online payment in crypto-currencies

PayPal has the intention to participate in the adventure of crypto-currencies. In fact, the site managers come from a patent to speed up the time of the transactions in crypto-currencies.

A patent filing by PayPal

This is the last week that PayPal has filed a patent application with the USPTO for a technology that is truly special. The latter would expedite the processing of payments in crypto-currencies through the use of portfolios so-called secondary. The goal is to maximize the payment in the digital currency among merchants and buyers, including on the platforms of online sales.

Pixabay – Mohammed-Hassan / PayPal has filed a patent to facilitate the online payment with crypto-currencies.

Thus, thanks to this new technology, the portfolios side allow the use of private keys unique. Here is what PayPal has explained concerning this patent : “in Order to ensure that the transaction is in Bitcoin will result in a transfer of BTC to the recipient, it will have to wait until the process of blasting and confirms the transaction before delivering the goods and/or services to the payer. In many situations, a waiting period of 10 minutes will be too high for payers and/or beneficiaries, and they will choose rather to perform the transaction using traditional payment methods rather than relying on digital currency. Questions like these have slowed the adoption of digital currencies, and this in spite of their advantages. “

An invention shared ?

Therefore, it is an invention to facilitate the use of the crypto-currency for online purchases.

However, there is a problem. In fact, the developer of Bitcoin Core considers that PayPal is trying to patent a technology that has already been developed by OpenDime. The latter would have proposed a solution to facilitate payments in the digital currency, offering the possibility of transferring Bitcoins with private keys to be unique. So it seems to be a similar technology.

Sounds like PayPal is trying to patent @OPENDIME#ShittyPatentshttps://t. co/zj7C80QR2d

— Peter Todd (@peterktodd) March 5, 2018

Thus, it appears that a battle may begin between PayPal and OpenDime relating to this technology that could revolutionize the online payment with crypto-currencies.

Source : CoinTelegraph

  • Mike Sunshine

    While PayPal and OpenDime are in the process of arguing about “who sings the best” … TenX is actually in the process of putting in place the first version of the protocol COMMITTEE, precisely to make the payment quick and easy in the real world. By linking all the blockchains.

    PayPal would not he taken in part or in whole the idea of one of the startups in his incubator ? TenX …

    Or better yet … maybe It is TenX, which is behind what ad PayPal …