The Coming Future After PayPal Supporting Crypto
A breaking news about PayPal drew a lot of attention last week in the world of Bitcom, stating that PayPal is ready to allow use of Bitcoin and other main stream cryptocurrencies on its platform.
According to online media reports, 346 million and more customers are using PayPal and 26 million stores accept PayPal as a payment method. The number of users on that platform is quite considerable and it also means PayPal creates a globe wise network through that. (Although Taiwan is not within that network per its own consideration).
A move from a corporate like this, will possibly create a new trend in the world.
PayPal plus Crypto means a huge expectation being created together by the global channel and the promising digital currency even before they doing anything. Elon Musk and, especially Peter Thiel (together known as the PayPal mafia) are very confident in the future of Crypto. The dual along with Jack Dorsey, the founder of both Twitter and Square, are supporters of Crypto. Their faith of Liberalism, disbelief of the government, together with the spirit of Blockchain and Crypto, form a prediction towards future as well as a move which has been preached and practiced by themselves. This is the entrepreneurship generated from faith and a set of actions including observation, analysis and finally the creation of the desired future rather than sitting and waiting for the future to come. This is what makes them admirable instead of their wealth for history will not record one’s fortune but contribution.
It’s not who you are underneath, it’s what you do that defines you
Based on the author’s observation, the technology trend happens when it is destined to happen, no matter we like it or not. In the early 90’s of which was a bridging-stage from FidoNet to the beginning era of Internet, I fully devoted myself into all kinds of movements to make internet more prevailing. I then created a first generation social media, BBS (Board Bulletin System), which became one of the top 10 internet sites with most users in Taiwan at that time while all my senior and parents tried to convince me to focus on study instead of this kind of ‘play around’. People back in the 90’s might thought Internet was just a toy or a joke, but Internet has proved them wrong by the given fact that it is the future.
The author founded BiiLabs based on the same observation, the future I see will not be formed by the same cloud like GAFA and others do now. On the contrary, there will be an another approach made by distributed technology such as Blockchain, including the introduction of digital currency.
The digitalization of digital currency has many meanings that include allowing currency to return to its essence instead of baffling people by its appearance which was merely a product was made from some special material and produced by some privileged printing firms. As on of the medium of exchange, digital currency (not emphasizing on Crypto) could be the best form as long as information security and the character of trust are fully satisfied.The problem is the current format of money was there for more than a thousand years. So it is normal people now is question about the Digital Currency.
The main problem is that the current format of money has been there for more than a thousand years, so it is normal for people having concern over digital currency. However, as mentioned earlier in this article, some trends are destined to happen whether you accept it and will become natural to your next generation. Therefore, true pioneers always choose to embrace future. Those Silicon Valley tycoons we mentioned are genuine pioneers embracing trends and future, but, of course cultural background matters — it is highly possible that same group of people in Taiwan be treated as merely naïve fools.
Apart from PayPal’s news, there is another news regarding Square’s positive expression and proactive planning towards the future of Crypto. These messages have presented some differences between these Internet tycoons of the new era.
Change is the only believe you can see from them.
Change does not exist in Chinese culture, it is awkward for Chinese people, especially for those with vested interests. This distances us from the founders in the Silicon Valley. Many in Taiwan may be innovative and insightful to some extent comparable to those in Silicon Valley, but the environment in Taiwan could be not very encouraging. They will often be told to be practical instead of be encouraged to achieve their desired future.
There are more signs from the market but not only PayPal and Square. You can see many governments have been trying to build the CBDC(Central Bank Digital Currency) for their own interest.
In the past few years, only some crypto believers and many speculators (of course) share the similar optimistic belief of the future. Now, there are more changes made by the real world change makers. So the coming future of the digital currency will definitely speed up.
Do you believe the possible changes from PayPal? No matter your answer is YES or NOT, I have made my choice and I know there are more to come.
