PayPal New ‘Voices’ Ad Sparks Rumors About Potential Bitcoin Plans
| Updated by Polina Chernykh · 3 min read
PayPal released new YouTube video, entitled ‘PayPal Voices’, provoking further talks about the firm’s future bitcoin adoption.
PayPal has uploaded a promotional video called ‘PayPal Voices’ on its official YouTube page on September 8th on Monday that reference digital currency.
The one-minute promo is focused on the peer-to-peer nature of transactions in the growing decentralized economy. It features various actors, or “the voices of the people economy”, praising the advantages of PayPal.
One line in the whole video text provokes thoughts of possible future bitcoin adoption. Just eight seconds into the video bitcoin is mentioned and the voices say: “Our phone is our wallet. We can spend Bitcoin with a tap, without a pocket. We can buy and sell and rent and send a twenty to a friend.”
The news shows that the company or its subsidiary Braintree will soon integrate the digital currency.
The first talks about the bitcoin adoption started in August, when The Wall Street Journal published an article stating that Braintree is in talks with several processing companies about adding the digital currency payment option.
According to one source, Braintree is working with bitcoin firm Coinbase to process the bitcoin transactions.
Discussions started again on Monday after a report by Re/code in which Braintree says it will soon announce that its users will be able to accept bitcoin.
The service’s most popular customers include Uber, Airbnb and HotelTonight. It’s unclear which of these customers will start using the digital currency. Notably, Braintree added that it may announce the news “perhaps as early as today.”
PayPal bought Braintree in September 2013. PayPal belongs to eBay, the leading e-commerce company.
This video was created in order to promote PayPal mobile application, which still not includes bitcoin payment option. This indicates that there is a possibility that PayPal wallet will soon update the application. Nevertheless, the official announcement was not yet made.
Speculations on the bitcoin integration arose after the release of the video and spread around YouTube and reddit. Still, details are unknown, as well as PayPal’s plans concerning the digital currency are not clear.
Although the video does not exactly means that PayPal will incorporate bitcoin, both Re/code’s article and the video raises many questions.
Many in the bitcoin community argue that the nature of bitcoin coincides with PayPal’s business model, while others consider that cryptocurrency doesn’t need the firm’s support to develop.
Anyway, bitcoin integration would be a significant event for the virtual currency community and will facilitate further bitcoin promotion.
Polina is an undergraduate student at Belarusian State Economic University (BSEU) where she is studying at the faculty of International Business Communication for a degree specializing in Intercultural Communication. In her spare time she enjoys drawing, music and travelling.