Ebay is hopping on the Bitcoin train

What Happened

Ebay and Paypal are looking at integrating Bitcoin into Paypal and eventually Ebay. So far we have seen corporates like Overstock, TigerDirect, and now Dish who started to accept Bitcoin payments. We have also seen companies such as Western Union, Gemalto and Amazon who were granted a patent relating to virtual currencies. Now it’s time the two twins Ebay and Paypal start integrating Bitcoin into their payment system.

Why?

We have seen that Ebay has also filed for a patent relating to Bitcoin so integrating this new paent system is something they thought of for quite some time. John Donahoe who is president and CEO of Ebay Inc. talked about his company’s future on CNBC. In the interview he said:

‘I think there’s no doubt digital currency is going to play an important role going forward, and at PayPal, we’re going to have to integrate digital currencies into our wallet.

One of the main reasons Donahoe is lookin at specifically integrating Bitcoin into PayPal is because Bitcoin is currently a competitor to PayPal. It is a smart business move for Donahoe to “integrate” his competitor and have access to an untapped digital market that these companies are trying so hard to dominate.

For more info you can visit this video on CNBC which includes the interview.