Paypal to Bring Their Own Currency..

icon_39_1The father of our nation, Mahatma Gandhi, is a person we all see daily, of course on the currency notes that we use. PayPal, the unit of Ebay, the online shopping store wants people to remember them in a similar way. They want to start their own currency. EBay’s PayPal unit has filed a patent application proposing secure tokens that could potentially be used as a virtual currency.

If this is implemented, then the users will not have to make accounts with PayPal, they can just use their services for the payout. Theoretically, it will be just used for gift purpose. Anyone who wants to get someone something but does not know what, can gift these points and the recipient can buy whatever they want.

But these also have come complications. In this economy, it is difficult to fix a price on anything. Thus using points or tokens as currency as of now;in this fluctuating economy if not practical. If this system is implemented, the users will be able to use these tokens outside of eBay and PayPal as well, which poses a threat to the already existing Bitcoin, Dogecoin and Litecoin along with a lot of others.

Deep Shah (18 Posts)

The author is a business enthusiast, animator, blogger. He loves Script Writing, Concept Development, Content generation,Screenplay and Cinematography.