In an interview, PayPal’s chief executive, Dan Schulman, recently discussed the prospects for blockchain – the encrypted, decentralised online ledger system that underpins Bitcoin and myriad other cutting-edge projects. While talking about blockchain’s potential for improving how people make payments around the world, Schulman said: We think there’s a lot of promise to blockchain technology … but it really needs to do something that the traditional rails [of the interntional payments system] can’t do. Most people think that blockchain is about efficiency, but the system today is pretty efficient. There are middlemen sometimes in between, but the rails of it are pretty efficient. So we…
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