February 3rd, 2018
Ebay announced Friday that they are switching to Ayden as their primary payment solution, reducing their involvement with PayPal. PayPal of course was an Ebay company until a spin-off in 2015.
Explaining the situation or perhaps playing damage control, CFO John Rainey joined Bloomberg TV to discuss the matter, citing the planned nature of the news and where PayPal is heading. Also during the interview, he took a question about accepting Bitcoin on their platforms, including Venmo.
While what Rainey said is true about the volitiliy of Bitcoin prices making it difficult to adopt for everyday payments, he failed to mention anything about about Bitcoin or cryptocurrency in general being viable and something worth looking into for the future.
This news comes in the midst of a sharp correction in Bitcoin's price, despite fundamentals staying in tact and technological improvements taking place in the entire blockchain market.
Video courtesy of Bloomberg Technology via YouTube
About the Author
Mark Baer is the founder of the Phuture Gains blog and works as an Independent Agent in FinTech, BizTech, and personal ID Protection.
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