PayPal ruminos and cryptocurrencies are weird, according to Decred co-founder
According to some recent rumors, PayPay is preparing to start working with crypto assets, including preparing a team to work on everything related to cryptocurrencies and blockchain.
Systems incompatibility and rumors
According to some recent rumors, PayPay is preparing to start working with crypto assets, including preparing a team to work on everything related to cryptocurrencies and blockchain. Jake Yocom-Piatt, co-founder of Decred, is not quite sure of the veracity of the rumors and stated: "It is difficult to say whether this that PayPal will soon accept cryptocurrencies, they are rumors or not.
Yocom-Piatt explained that the main reason he believes the rumors to be untrue is that the PayPal system is incompatible with the cryptocurrency system: "Specifically, PayPal is known to deprive its users of access to purchased funds. legitimately on their platform with little or no justification [...] The fact that users' funds are restricted in this way is something that cryptocurrencies are designed to avoid, which makes this integration, if indeed is in progress, be a strange combination."
A report released in February 2020 by Slate revealed the difficulties related to making payments inside through PayPal due to severe restrictions and security protocols. The report revealed: "PayPal, together with its affiliate Venmo, use a system that automatically marks keywords in the field of the payment note that could indicate a violation of United States sanctions."