PayPal currently doesn’t have much of a relationship with the virtual currency Bitcoin, but that may soon change. The company’s president David Marcus seems to be very interested in the virtual currency, and says his company is “thinking about” potentially including it one day, according to a Bloomberg video interview published on Wednesday.
PayPal president is fascinated by Bitcoin, says company is ‘thinking about’ including the virtual currency
From the Oanda blog.
The world is abuzz over Bitcoin. The virtual currency has become a global phenomenon reaching an all-time high of more than $250 USD in early April. That record was short-lived however, as a near-panic sell-off halved its value within days of reaching the milestone.
We recently added Bitcoin to the OANDA Currency Converter. We admire it as an interesting experiment in financial innovation and, because we’re financial innovators too, we share the excitement such disruptive technologies can bring to mature industries and markets.
Bitcoin is attracting attention as a wildly volatile, all-digital currency. How does it work? How are criminals taking advantage of it? How risky an investment is it? In this Bitcoin explainer, WSJ’s Jason Bellini has “The Short Answer.”
The fervor over the digital currency Bitcoin has drawn interest from two of the world’s largest movers of money. And soon we expect them to start offering money transfers in bitcoins!
Western Union Co. WU -1.16% and MoneyGram International Inc. MGI -0.68% are studying ways their customers could use their services to send and receive money transfers denominated in bitcoins, the companies’ executives say.
Both companies run remittance networks commonly used by immigrants to send money to friends and family members in foreign countries. Western Union also operates a business-solutions unit that helps companies send payments to other businesses.
Article by Timothy B. Lee, Contributor at Forbes.com;
I’ve noticed a contrast in the way programmers and non-programmers react when they first hear about Bitcoin. And I think an analogy to cryptography helps explain it.
Cryptography has been around for centuries, but until recently all the practical encryption systems people knew about were symmetrical. The encryption key could be derived from the decryption key as easily as vice versa.