PayPal May be Planning Virtual 'Tokens' According to eBay Patent Proposal
A patent application by eBay, the parent of PayPal, may signal that the company is making plans for its own virtual currency. The patent, which was applied for in summer 2012, is for something called a "gift token". It appears that eBay may have designs on developing a new way to distribute monetary value within the digital realm. "A gift can be given from a user of a payment provider to a gift recipient," according to US patent application 20130339188, which was published on 19th December 2013. "The recipient can be a member of the user's family, a friend, or any other person or entity.....
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On October 22, 2015 the United State Patent and Trademark Office published eBay patent applications for 20150302400, “Distributed Crypto Currency Reputation System” and 20150302401, “Distributed Crypto Currency Unauthorized Transfer Monitoring System”. The reputation application will be discussed in detail below and while controversial, we will offer just an extract of the blacklist application as it does not appear to be a particularly interesting except for who submitted the application. The applications were filed by eBay, which (at the time) owned PayPal prior to its split. Both....
In an email from Ebay they share their plans to open trade for cryptocurrencies like Bitcoin on 10th February 2014. This is a shift from their present policy that bans the sale of digital currencies. Many virtual currency experts are urging caution when trading virtual currencies on EBay using Paypal, however, as the risk for charge backs are still very real using PayPal. At it's core, EBay is built to be a major venue to trade these assets. Forecasting an advancement in payment processing as large as virtual currencies offer was impossible when EBay bought PayPal in 2002. Not a person in....
Multinational e-commerce giant eBay has filed two cryptocurrency-related patent applications. Published by the US Patent and Trademark Office (USPTO) last week, the applications were both submitted on 18th April last year. According to the filings, eBay wants to patent a "distributed cryptocurrency unauthorised transfer monitoring system" and a "distributed cryptocurrency reputation system". Ebay's filings come after the USPTO published Coinbase's applications for nine bitcoin-related products and 21 Inc's filing for a digital currency mining circuitry patent. Speculation about eBay's....
PayPal isn't exactly a huge fan of Bitcoin. Understandably so, since Bitcoin poses a threat to the entire company. PayPal specialises in online payments, but people can just skip the PayPal middleman with Bitcoin transactions. Simply selling mining equipment on eBay, PayPal's parent company, can get your account banned. Although PayPal's president David Marcus stated, "I really like Bitcoin. I own Bitcoins," he also thinks, "People are confused. They think because it's called cryptocurrency it's a currency. I don't think it is a currency." However, a 2012 patent application from eBay....
Gift giving during the holidays just took on a whole new meaning. eBay, the parent company of PayPal, filed patent application20130339188, "Gift Token" with the United States Patent and Trademark Office (USPTO) on June 18, 2012. The USPTO published the application on December 19, 2013. The technology was invented by itsengineers from Tamilnadu, Indiaand assigned to eBay Inc. of San Jose, California. The innocuous sounding application "Gift Token" was probably written in such a way as to shield trade secrets from competitive intelligence gathering. It is common for companies to obfuscate....