Could PayPal Be On Track To Bitcoin Adoption
PayPal is one of the biggest payment platforms in the world and thus far the platform seems to have avoided the acceptance of Bitcoin as well as not looking to blockchain for its system. Now though, PayPal has launched an internal blockchain-based employee incentive scheme.
In California is PayPal’s innovation lab and a production of the lab took a team of 25, half a year to build the platform which went live last month. The director of innovation at the lab, Michael Todasco said that the platform is “Venmo-like feed people can like and comment on and see all the activity going on within PayPal related to innovation.”
The new blockchain platform for PayPal rewards its staff in crypto-tokens but they only have value inside of PayPal and the platform itself. Employees will be able to gain token after they join innovation programs and contributing ideas, they can also trade tokens. The token transactions can be recorded on the blockchain ledger for the platform. In addition to this, there are over 100 rewards up for grabs.