AnCaps
ANARCHO-CAPITALISTS
Bitch-Slapping Statists For Fun & Profit Based On The Non-Aggression Principle
 
HomePortalGalleryRegisterLog in

 

  PayPal Files Patent For "Virtual Currency Transaction System"

View previous topic View next topic Go down 
AuthorMessage
CovOps

CovOps

Female Location : Ether-Sphere
Job/hobbies : Irrationality Exterminator
Humor : Über Serious

 PayPal Files Patent For "Virtual Currency Transaction System" Vide
PostSubject: PayPal Files Patent For "Virtual Currency Transaction System"    PayPal Files Patent For "Virtual Currency Transaction System" Icon_minitimeMon Mar 05, 2018 9:49 pm

While cryptocurrency traders continue to patiently wait for the "golden grail", i.e. an announcement by Amazon it will begin accepting cryptos as valid payment, other online vendors are starting to make quiet moves. Case in point: on March 1, PayPal filed a patent application for an "expedited virtual currency transaction system", first flagged by Bitcoin.

Here is how Paypal explains the patent:

Expedited virtual currency transactions are provided by identifying a first user primary wallet associated with a virtual currency and including a first user primary wallet private key. First user secondary wallets are created that each include a respective first user secondary wallet private key, and a respective virtual currency transaction is performed using the first user primary wallet private key to transfer predefined amounts of the virtual currency from the first user primary wallet to each of the first user secondary wallets such that first user secondary wallets are provided with different predefined amounts of the virtual currency. Subsequently, an instruction is received to transfer a payment amount to a second user, and the second user is allocated a subset of the first user secondary wallet private keys included in respective first user secondary wallets that are associated with predefined amounts of the virtual currency that equal the payment amount.

https://www.zerohedge.com/news/2018-03-05/paypal-files-patent-virtual-currency-transaction-system
Back to top Go down
 

PayPal Files Patent For "Virtual Currency Transaction System"

View previous topic View next topic Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
 :: Anarcho-Capitalist Categorical Imperatives :: AnCaps' Laissez-faire Free Trade Zone-