Paypal Files Patent for Expedited Cryptocurrency Transaction System

Paypal Files Patent for Expedited Cryptocurrency Transaction System
"A recent patent filing reveals that Paypal might be considering expanding its exposure to the cryptocurrency ecosystem with a new system for speedy transactions. We shouldn’t however expect a Paypal Lightning Network or anything close to that any ti..."

Read more: https://news.bitcoin.com/paypal-files-patent-expedited-cryptocurrency-transaction-system/

Citing a need for increased transaction speed, PayPal has filed a new patent application for an “expedited virtual currency transaction system” with the US Patent and Trademark Office. The last time it was reported that the company filed a patent application related to cryptocurrencies was back in mid-2016 when it showed plans for a modular payment module that accepted bitcoin, litecoin and dogecoin.

It will be interesting to keep an eye on other cyrpto-related patent filings because patent filings can often signal either the direction a company wants to head with their products/tech or could signal that they are trying to block others from entering various technical spaces.