PayPal invests in blockchain companies for the first time

According to media reports, online payment company PayPal has released A message that the company has been involved in blockchain start-up Blockchain (Cambridge blockchain) of A-round financing, PayPal’s first investment blockchain industry.

PayPal’s company representative said we were pleased to work with Cambridge Blockchain, and PayPal’s first blockchain betting would focus on the digital identity area.

Cambridge Blockchain is a startup that helps financial institutions and other companies use shared ledgers to manage sensitive data, and is a company focused on the field of digital authentication. 

Cambridge Blockchain is currently developing a digital authentication program that is similar to a digital passport, and users will be able to strictly control their data permissions and use it to verify themselves.

The current digital authentication system is to use the block chain technology to link personal information to the application that contains the encrypted address, the user only needs a strict verification, can get a unique identity in the program, the identity is completely under the control of the individual, will not lead to data leakage.

In addition, the identity can be used in multiple organizations and provides users with smoother digital services and higher security.

It has previously been reported that the rumours that PayPal is committed to integrating Bitcoin payments have been circulating for years, with the original vision of creating a digital currency that is independent of banks and governments, but until now the company has not really adopted the way of encrypting money.

Today, PayPal has made its first investment in blockchain, which is a positive sign. Recently, PayPal also launched a blockchain-based reward system for its employees. PayPal employees can get tokens by contributing ideas and participating in innovation programs, and can trade more than 100 “experience products” within the company.