Paypal Experimenting with smart contract !! - page 3.

Zeehaxan

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Quote from: Imran232 on March 04, 2021, 01:16:25 PM

“PayPal's crypto unit is experimenting with smart contracts, and testing Ethereum and other blockchains as potential candidates to help the company improve payments and other transactions.”
Source: twitter

Is this news gives a posetive effect on crypto, what do you think?

I think this news is not significant enough to create bullish effect because it is a common trend now where many companies and businesses are working on implementing blockchain and smart contracts to improve the efficiency of their businesses so it is no more surprising for the market.

TastyChillySauce00

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in my opinion it's good news. It's time for many large corporations across the world to take advantage of blockchain and leave those obsolete, vulnerable systems.
If paypal's experiments turns out to be a huge success then it's time for further mass adoption of crypto to appear on various sectors. Though we need more information about this experiment more but I could see that they have seen potential on smart contracts maybe influenced by those stablecoins.

DapanasFruit

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In my opinion, this can be the natural next move for PayPal and they must have already determined that their users globally would love to have the option of using smart contracts within the PayPal ecosystem. Now, this can be good, of course, for the cryptocurrency industry as this is another validation of adoption and maybe use-case for the network (hope not just Ethereum) their eyes will lay on. In case, the final choice is going to be Ethereum then it can be a big boost for that platform and its coin. To be associated with PayPal can be brining a lot of marketing energy and goodwill in the marketplace.

Sri rahayu

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That way, there will be a choice of how to transact on paypal? would like to hear more information soon from this company.

coinmaster241

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Quote from: Imran232 on March 04, 2021, 01:16:25 PM

“PayPal's crypto unit is experimenting with smart contracts, and testing Ethereum and other blockchains as potential candidates to help the company improve payments and other transactions.”
Source: twitter

Is this news gives a posetive effect on crypto, what do you think?

Most of the companies are competing on application of blockchain technology to facilitate transactions between countries around the world quickly and without any obstacles, in my opinion this is very positive with the joining of large companies to join the blockchain network.

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Quote from: Imran232 on March 04, 2021, 01:16:25 PM

Is this news gives a posetive effect on crypto, what do you think?

Yes it is, it looks like paypal is still discovering which smartcontract platform that will be very suitable to be used to improve their future crypto payment system.
If there will be a smartcontract platform will be chosen and there will be a big hype for this platform.
I think that we must keep our eyes in the smartcontract platform. More big companies interested with it.

meanwords

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I guess they don't want Elon Musk Getting all the head start. I wonder what kind of project are they going to do though? What's this "super app" that they are referring to? because from what they've described it, it's going to be one of those third-party wallet app that accepts cryptocurrency and can be use for services (like coins.ph) globally.

memyselfandi

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I think this shouldn't be need anymore in paypal since paypal is doing good with its current and existing business system. Those people behind it doesn't need to venture smart contracts and blockchain. Besides, there are a lot of project/platform that offers the same service like paypal. I find this move not so wise.

cabron

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Anything related to adoption like paypal and BTC and ETH is positive news to the public and its users. Paypal users alone I think is more than how much crypto users right now. The more cryptocurrency users activated through the integration of big companies like Paypal will make volumes greater. But we still have to find out what really they are up to with this smart contract.

FinneysTrueVision

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I don't see how smart contracts will help PayPal in any way, especially if they are creating Ethereum on-chain transactions. PayPal is already faster and more efficient than Ethereum could ever hope to be. They are much better off using centralized servers than something as slow and expensive as a decentralized blockchain. We have heard of other companies using ETH or private forks but it never amounted to more than a few headlines and nothing really came of it.

Wexnident

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Well it's definitely positive news imo, especially since they're trying to integrate it as a way to improve the method of payments that we have right now. It is however still up to debate if they are going to integrate it or not. If they were, then that's fine, but if not, then that means that they found something more effective or there was an issue with the way the process worked. Either way, it could be a negative blow if such a thing happens (though it's mostly a blow in merchants trying to adopt smart contracts, not really with crypto itself)

mk4

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It's really not surprising for companies as big as PayPal to be experimenting and testing stuff that could potentially improve their business though (as they should, as they're a tech growth company). You're probably a bit too optimistic because there are zero guarantees that they will actually end up using smart contracts.

steampunkz

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Well, that's not surprising (first Amazon working now with ETH) considering that PayPal is planning to buy CURV, and now working experimenting with smart contract? Very nice indeed I think PayPal has big plans or improvements to announce soon

livingfree

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Wait until PayPal tells us that to us.

Every sense of adoption about cryptocurrencies and blockchain is all positive news to the market. You see more people gain their trust towards it.

And it's PayPal which they can't ignore but believe what it does because it's one of the largest payment processor in the world. Although they've already added the feature to buy crypto on their platform yet a little bit sketch about transferring it to others.

TimeTeller

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Quote from: 20kevin20 on March 04, 2021, 02:52:50 PM

I think smart contracts are to their advantage since they can place conditions on your coins. It's what they want - control, so they're going to likely do it. All I'm waiting for is for them to enable (if they ever plan to do that) withdrawals to and deposits from personal, non-custodial wallets. At that point, they'll finally earn my respect.

They will always think of their benefits here.
So they are looking for ways how to implement smart contracts on their platform.
Sooner or later, many paypal users will complain about how they deal with crypto.
And maybe, paypal will decide to change how they approach with crypto, and let these people deposit or withdraw their coins on their own.
Right now, most crypto users will not opt to use paypal when it comes to crypto transactions.

milewilda

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Quote from: Imran232 on March 04, 2021, 01:16:25 PM

“PayPal's crypto unit is experimenting with smart contracts, and testing Ethereum and other blockchains as potential candidates to help the company improve payments and other transactions.”
Source: twitter

Is this news gives a posetive effect on crypto, what do you think?

Any recognition news would always be a positive thing towards adoption neither it would only be focusing on other blockchains rather than with bitcoin then its just fine
as long it does show off some interest towards crypto market then that what matter most.Its only normal for a company to look for another alternatives or things
which they do look for it to be beneficial into their company.It seems they do see bitcoin wont be enough thats why they are looking for another path and thats
the way on considering smart contracts and later on they might be considering other blockchains as well.

20kevin20

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I think smart contracts are to their advantage since they can place conditions on your coins. It's what they want - control, so they're going to likely do it. All I'm waiting for is for them to enable (if they ever plan to do that) withdrawals to and deposits from personal, non-custodial wallets. At that point, they'll finally earn my respect.

seoincorporation

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As we know, paypal is now accepting bitcoins (For some users), they can use Paypal to buy and sell bitcoin, but not to make a bitcoin transaction, is more like an investor's tool than money to use on your day by day. And since users don't have access to their privatekeys or their bitcoin we don't know how they are implementing the technology. But isn't a surprise for me that they are experimenting with smart contracts, they have a digital money business and they should invest in all of the new technology research that could make from the services something better or more efficient.

DeathAngel

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If & it’s a big if, Paypal incorporate bitcoin into their payment system options then of course it’d be a good thing. It’d be hugely bullish, let’s wait for an announcement before we get too excited though.

Imran232

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“PayPal's crypto unit is experimenting with smart contracts, and testing Ethereum and other blockchains as potential candidates to help the company improve payments and other transactions.”
Source: twitter

Is this news gives a posetive effect on crypto, what do you think?

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