EBAY GOES FOR BITCOIN

Updated: 03/11/2014 22:10
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ebay goes for bitcoin
The U.S. trading platform has already become an oldtimer in the United States Patent and Trademark Office, the applications for the patent to be...
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The U.S. trading platform has already become an oldtimer in the United States Patent and Trademark Office, the applications for the patent to be...

The U.S. trading platform has already become an oldtimer in the United States Patent and Trademark Office, the applications for the patent to be issued are filed in one after another. In December 2013 eBay applied for the patent on "gift tokens" and now it goes for Bitcoin to be added into operation.

The document called System and Method for Managing Transactions in a Digital Marketplace describes in details how the authorities thinks of the process of e-currency exchange with the help of currency module, when access to exchange rates may become needed.

Eventually, the benefit from the eBay innovation may be the following: currency module 308 lets user trading one type of currency in exchange to another one. Digital currency can be used for paying the financial obligations (accounts for instance) as well as for virtual purposes.

Despite the fact now Bitcoin is of a greater interest among e-currencies than others, eBay is also planning to start working not only with this kind of virtual money. The list also includes bonus miles, gift bonuses, Facebook credits, eBay-currency etc. The Bitcoin holders will not be required to cash out the cryptocurrency equivalent in another currency. The system allows them to accumulate Bitcoins in commercial currency, further on exchanging it to goods or services in eBay network.

All in all in case all these plans come true eventually, eBay and its payment processor, PayPal will become one of the first ones to support the cryptocurrency culture on its first stage of development. Well, of course, the management should decide positive on it for the bitcoin to get spread online.



About the author

Walter Anderson used to work as a creative freelance writer with three years experience in the industry working in print and online media. I used to search for exciting new projects and hence launched the monthly online newsletter, which has been supposed to increase any website traffic by 40%. Since 2010, Walter Anderson has been officially hired by HYIPNews.com media portal first for the position of the article and news writer writer and then starting from 2012, the vacant position for the chief writer at HYIPNews has been taken by Walter Anderson and is still taken by now.
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