Bitcoin blockchain pruning blueberry bushes
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Ulysse et nono le petit robot
Thank you for continuing to trust us with everything FinTech! Virtual currencies are leaving behind every other buzzword in the FinTech industry today, in terms of hype. And virtual currencies are moving beyond hype becoming more central than tangential with some big names behind it. Its looks like a good example set by Paypal with its global innovation engine. The application is generally vague and broadly put in its language as all patent applications generally are, but there is a description of programmable money very similar to Bitcoin at its core.
The purchase can be made from a brick and mortar store or an online store. Basically, eBay proposes a system for exchanging and storing value that is independent of the current financial system. There would be no need for credit cards, bank accounts or state issued currency. The patent filing states that the recipient can use the token to purchase a product using a checkout though the payment provider, but won't require creating the user's own payment provider account.
Such a token can be used to authenticate a customer and to facilitate payment for a purchase. A customer possessing a token can be assumed to be authorized to make a purchase using a payment provider account for which the token was issued. After the purchase, money can be transferred from the payment provider account to an account of the merchant. During a purchase transaction, the customer can present the token to the merchant. The token can be presented either along with or in place of a password.
Some experts believe that the patent sounds like a move to Tokenization also being talked about by Visa. Tokenization is the talk of the town in Fintech industry. The token does not have to be a gift. For example, the token can be paid for by the recipient. Payment for the token can be made to the user, to the payment provider, or to any other person or entity. As a further example, the token can be a payment made by the user to the recipient, such as for goods received or services rendered.
Generally, the token may be described as a payment token that allows the recipient to use the token to make a payment using the services of the payment provider issuing the token on behalf of the user. In theory, these tokens could serve as a currency that can be utilized for making purchases outside of eBay and PayPal. He envisions the acceptance of the virtual currency, but disclosed that PayPal had no plans to adopt Bitcoins due to its volatility and lack of regulatory infrastructure.
Marcus says he infact owns some Bitcoins himself.