eBay CEO: “We Think Bitcoin Will Play a Very Important Role in the Future”

Super User
By Super User May 14, 2014 10:54AM BST


eBay CEO: “We Think Bitcoin Will Play a Very Important Role in the Future”

Story Highlights

  • eBay chief says bitcoin will play very important role in the future
  • Donahoe seemingly optimistic about bitcoin

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eBay CEO John Donahoe was recently asked about a number of different topics, and wouldn’t you know, bitcoin just happened to be one of them.

eCommerce Bytes reports that Carl Davis, Jr. of the Silicon Valley Black Chamber of Commerce recently asked Donahoe what he thought of bitcoin with regard to global trade.

Donahoe reportedly said in response that he thought the digital currency was both an exciting and emerging technology.

“We think Bitcoin will play a very important role in the future. Exactly how that plays out, and how we can best take advantage of it and enable it with PayPal, that’s something we’re actively considering. It’s on our radar screen,” Donahoe said.

“It’s on our radar screen”

Donahoe isn’t any stranger to talking about bitcoin. And in the past, he’s dropped hints about a PayPal/Bitcoin integration (eBay owns PayPal).

In mid-February, he appeared on the Bloomberg television network and said that PayPal was working on a digital wallet.

“Well, you can use digital currencies in the PayPal digital wallet, that’s in fact what PayPal is doing — is building a digital wallet that can take multiple types of currency,” he stated to the program’s host.

Many in the community took that as a sign — but at this juncture it’s very much still unclear just what exactly PayPal’s doing. But with an executive who recognizes the potential of bitcoin, an integration of sorts could appear down the line.

Last year, Donahoe said that “digital currency is going to be a very powerful thing,” and that eBay would continue to monitor developments in the sector.

As of early April, eBay has included a virtual currency section on their website where sellers can post mining contracts, miners, and currency.

Image János Balázs

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Nuno Menezes is a Bitcoin Entrepreneur and a crypto currency’s enthusiast strongly supporting the Bitcoin Portuguese Community. He is an Anthropologist and a Writer and his current field of work is virtual currencies.Complementing his Social Sciences Master degree with a Professional background in telecommunications along some experience in Computer Science, he intends to bring knowledge and understanding about the impact of crypto currencies in society.