Back on the 26th of May 2016, there was a patent application by PayPal with the United States Patent and Trademark Office which describes a sort of physical device that can actually handle payment operations but closely in support of a crypto-currencies. The device has two main components which are a payment module and also the other is the payment module database. The job of the first module is to ensure connectivity as it connects easily with a wireless system such as connectors and readers. The other which is the payment module database contains other smaller components which are for storing funding source information and the other for security purpose. Now, the funding source component is basically a mini-module for storing information about varieties of payment sources like the PayPal account or Bitcoin wallets. The security part of the component does exactly as its name states. Also as stated in the patent paper filing, PayPal did described possible support for at least multipe cards in order for the device to support various crypto-currencies all at a time such as Bitcoin, Litecoin and Dogecoin.
Going through the paragraghs 0059 and 0060, one can find all what concerns Bitcoin more. There is also another integration whch is purposed to protecting sensitie card and wallet information. The system which is TrueCrypt. As the case with the company goes, its attempt to making things a sort of more easier for their clients is such that the company becomes more figure headed in the money processing industry.
We see, touch and come in contact with technology in every single thing we do! Brumpost takes you through the long and short journey of true technology this month with our amazing indepth conversation with tech insiders and inventors.