Boston, MA 06/09/2014 (wallstreetpr) – Online auctioneer eBay Inc (NASDAQ:EBAY) seems to be interested in encouraging Bitcoin as an online payment in future business. There appears to be growing interest among the companies to accept Bitcoin as a digital currency though the U.S. is yet to classify it as a currency.
Bitcoin
eBay Inc (NASDAQ:EBAY)’s chief executive officer, John Donahoe, favored Bitcoin as digital currency is set play a key role in future online shopping. He has indicated that there are plans to integrate digital currencies into PayPal wallet. He was airing his views on Bitcoin during the course of an interview to CNBC recently.
The CEO disclosed that he owns digital currency with a view to understand how it can be utilized. He has been expressing his views on digital currency earlier too in the last one year indicating its preference for Bitcoin especially when asked or addressed about PayPal division.
Bitcoin was established in 2009 as a digital currency following the ideas spelt by Santoshi Nakamoto. The digital currency provides the assurance of lower transaction costs compared to the regular online payment methods. The digital currency is managed by a decentralized authority and not like currencies issued by the governments. There is no involvement of physical Bitcoins and balances only connected with private and public keys with the balances being kept on a public ledger recording all transactions, which is cross checked by a big amount of computer power. Since the U.S. has not classified Bitcoin as a currency, it could invite taxation as the digital currency is considered as property.
Others To Accept Bitcoin
Pay television provider DISH Network Corp (NASDAQ:DSH) has already indicated that it will accept Bitcoin as means of payments from its customers commencing from the third quarter. The announcement was considered as a big boost for the digital currency.
With eBay Inc (NASDAQ:EBAY) expected to join DISH Network Corp, there is a likelihood of more big companies joining them to accept Bitcoin as a digital currency.
