Topic: Is PayPal plannning to Launch of Own Stablecoin? - page 5. (Read 538 times)

I'm pretty sure exploring != planning.

The former likely means that they're still trying to find out if it's worth doing or if it's feasible; while the latter likely means that they're probably already decided. Also taking note that these huge companies frequently "explore" stuff that they can implement to their company; without any guarantees in the end that they will push through.

Good job by the media by creating a "pAyPaL cOiN" to get clicks and shares from the normies though.

I read this like a day ago, I just glanced through it on Cointelegraph. Why would PayPal want to create their own stable coin when the coins they are supporting now like bitcoin can not be transferred (received or sent), PayPal users can only buy or sell but can not send and receive. PayPal can change this later but I am wondering if they do not change, how would it be different from fiat? Also, PayPal is a company that can not be trusted about cryptocurrencies as they bring up confusions that can mislead people about what cryptocurrencies are, they are even worse than centralized wallets when it comes to cryptocurrencies. I can never use PayPal for anything related to cryptocurrencies.

PayPal will do it in a way to be centralized and relate to or support fiat.

PayPal will think of all these before starting or they will face new rules and regulation from the US government. Just know that PayPal main goal is fiat and central control.

Yes. People that are using PayPal.

It will be more than centralized and operate with fiat.

I don't know if I'd take these ideas seriously, especially from PayPal.

Assuming it's still owned by eBay, its probably just trying to get some demand on ebay stocks (since they just seem to fall relative to their profits).

Also, I don't know if anyone uses PayPal for any other reason than it being useful for not putting in card details when paying for stuff, if you instead have to bother to sign a transaction or do something fancier then why would anyone bother?

All this being said, a centralised organisation controlling a cryptocurrency might make it more forgiving from scams and accidental mistakes (eg sending to addresses spelt wrong).

Here are Jose Fernandez da Ponte's (SVP, Blockchain, Crypto and Digital Currencies at PayPal) words:
“We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators”

Source link: https://www.bloomberg.com/news/articles/2022-01-07/paypal-is-exploring-launch-of-own-stablecoin-in-crypto-push

PayPal Coin is expected to be backed by $ Dollar U.S.

I see both positive (+) and negative (-) aspects of this news.

(+) Financial companies are feeling the wind of change and are trying to keep up with new technologies and new opportunities to increase their profits. Can say that this is in some kind of one of the stages of the masses of the adoption of crypto. Does the crypto community want cryptocurrencies to supplant traditional banks? Here is one of the stages to the formation of this.

(-) Did you really think that the traditional banking and financial system would simply wither away from the mass adoption of crypto? Of course not. Those organizations that will not be able to adapt to new conditions will die.

(+) This news, in its own way, attracts the attention of ordinary people to the topic of crypto. Moreover, PayPal has a huge user base, which allows them to be interested in crypto. 

(-) The disadvantage in this, I see, is that the new PayPal Coin will be centralized and, of course, the problem of mandatory verification. And of course, PayPal Coin will be very far from the ideology of Bitcoin.

How do you rate the event with this company's plans to launch its stablecoin?