RATE Group | Forget Satoshi, Bitcoin is Fulfilling PayPal’s Original Vision
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Forget Satoshi, Bitcoin is Fulfilling PayPal’s Original Vision

17 Aug Forget Satoshi, Bitcoin is Fulfilling PayPal’s Original Vision

Posted at 14:50h in Bitcoin News by

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PayPal has come in for fresh criticism as commentators renew claims the company has all but failed in its mission to transform money usage.

PayPal Slips Up In Turkey

In an interview with the Wall Street Journal earlier this year, CFO John Rainey had admitted Bitcoin and cryptocurrency could become “as popular as payments” in future.

Now, amid reports of fresh account freezes in order to bend to regulatory demands in some jurisdictions, cryptocurrency industry figures are more skeptical than ever of the company whose original remit was to break down borders associated with payments and give consumers borderless freedom.

“PayPal’s original vision was to prevent governments from doing exactly this,” Messari CEO Dan McArdle tweeted August 14 in response to PayPal’s admission it had blocked access to customers from Turkey.

That decision, coming as Turkey introduces economic measures to curb its currency’s rampant devaluation, was the result of PayPal needing “necessary…

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