While mainstream crypto use could be a long shot (for now), PayPal Holdings, Inc. a US-based online payment processor is well on its way to making it happen sooner to support crypto-related products into leading towards a “more affordable, efficient and inclusive digital financial system” by assembling a cross-disciplinary advisory council.
According to an article published on PayPal’s website by SVP & GM, BCDC, Jose Fernandez da Ponte, the company has established a council of six members as part of the council on Blockchain, Crypto, and Digital Currencies (BCDC).
PayPal believes that it is critical to collaborate with global leaders in the field of cryptocurrency in order to provide better financial services to its users with adequate access.
While PayPal has been tight-lipped about what the council will discuss or when it will begin operations, it is clear that the advisory firm is interested in expanding into the crypto sphere more concretely & potentially facilitating transfers between different users.
The six members of the advisory council are as follows:
- Peter Briger Jr. – Co-CEO of Fortress Investment Group
- Chris Brummer – Research Professor at Georgetown University Law
- Shafi Goldwasser – Director at Simons Institute for the Theory of Computing UC Berkeley
- Timothy Massad – Former Assistant Secretary of the Treasury for Financial Stability
- Neha Narula – Director of the MIT Digital Currency Initiative, a part of MIT Media Lab.
- Antoinette Schoar – a Professor of Finance at MIT Sloan School of Management.
While the feasibility of everyday crypto transactions is being argued upon, many people are working to make it a reality as Block’s Cash App announced that it has integrated with Lightning Network to allow people in the United States to transfer bitcoin for free.
