Premiere: PayPal invests in Blockchain companies

the PayPal invests in Cambridge Blockchain. A notice is, as required by the Online payment service provider in a first round of Investment. Cambridge Blockchain plans, Blockchain solutions in the area of digital identity.

By Phillip Horch
4. April 2019BTC$4.966,25 -0.36% part Facebook Twitter LinkedIn xing mail

PayPal is involved in a first round of funding at Cambridge Blockchain. As can be seen the official statement of the company for identity solutions on the Blockchain, wants to take the company together with the payment service provider in the market of the future of identity on the Blockchain. Matthew Commons, CEO of Cambridge Blockchain:

Our Service allows to forms of digital identity is expressed, while users retain control over their identity data. We appreciate the vote of confidence from PayPal, and we look forward to your Support and your leadership.

As you can see from the message, wants to combine the companies, the advantages of the Blockchain technology with an Off-Chain solution for identity data. So for users, the possibility should arise, even managed to dispose of the data.

Overall, the company was able to collect so far about 3.5 million US dollars. In addition to PayPal, the Omidyar Network as well as its subsidiary companies Flourish.

Blockchain, and identity: A wide field

explain How we are here, among other things, the merger of the Blockchain and identity data to fertile soil. The well-established centralization of identity data by Google, Facebook, Amazon and co. moved the Power over identity data in the hands of individual players. The users themselves, however, less about what happens with your data falls increasingly.

So, for example, Cambridge Analytica led to user data of Facebook Manipulation. The data analysis company Cambridge Analytica bought a portion of the data by Facebook, in order to operate so-called micro-Targeting. In doing so, you provide Facebook users with certain information in order to influence their behavior in upcoming elections. As we reported here, had this practice appears to be a significant proportion of the current presidency of the United States: Donald Trump.

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