PayPal invests in the Blockchain

Business

To mark its entry into the Blockchain technology, PayPal, the online payments giant, has just taken over the Cambridge Blockchain . This startup’s mission is to assist customers in the management of sensitive data using distributed registry technology (DLT).

Secure identity data

Paypal has just made history by joining the expansion of the Cambridge Blockchain A series , revealed in May 2018. Although the amount of its investment has not been disclosed, recent documents filed with the SEC indicate that the startup was able to raise $ 3.5 million, then $ 7 million in the first round of the series.

With this participation, Paypal plans to use the capabilities of the Cambridge Blockchain platform to allow its users to avoid sharing their personal data when it is not needed.

Paypal and Cambridge Blockchain meet again

Paypal has rarely been associated with Blockchain technology. The only time the name of the company was mentioned was during the filing of a patent to rationalize the transaction rate of cryptocurrencies, in March 2018, as well as the announcement on the implementation of an internal project to promote the democratization of cryptos within the company.

In addition, Paypal and Cambridge Blockchain have already crossed paths with Fintech Europe 2018. The two players were working together to develop an accelerator co-hosted by PayPal , aimed at helping start-up companies meet regulatory requirements. data protection and confidentiality.

What do you think of this first Paypal investment in the Blockchain sector? Comment in the comment section below.

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