PayPal establishes blockchain and cryptocurrency advisory council

Paypal has established an advisory council on ‘Blockchain, Crypto and Digital Currencies’ (BCDC) to help it achieve its bold ambitions with the emerging technologies.

The e-commerce company established the council to support its “current and future products in the space”, with further emphasis placed on its broader mission of “leading the way towards a more affordable, efficient and inclusive digital financial system”.

PayPal also noted its bold ambitions in shaping how blockchain technologies and cryptocurrencies can provide “increased access to financial services in the near term”, and created the advisory council to better understand the industry’s most “compelling opportunities and complex challenges.”

Paypal’s advisory council is comprised of a selection of world-leading experts in fields such as cryptography, distributed technology, regulation, economics and capital markets.

Its members include Peter L Briger, the joint CEO of Fortress Investment Group and Dr Neha Narula, the Director of the MIT Digital Currency Initiative.

PayPal has been open to cryptocurrencies since last year when it introduced cryptocurrency payments and purchases to its platform alongside the inception of a digital wallet that allows users to trade crypto and support charities.