PayPal Creates a Cryptocurrency and Blockchain Advisory Council – Bits Media

The management of the payment company PayPal announced the creation of an advisory council, which included industry finance experts, blockchain and cryptocurrencies.

According to PayPal statement, the creation of the consortium is aimed at supporting current products companies and the formation of a digital financial ecosystem. The board members included Fortress Investment Group CEO Peter Briger (Peter Briger), Georgetown University Law Center Professor Chris Brammer (Chris Brummer), Weizmann Institute Professor Shafi Goldwasser (Shafi Goldwasser), former Chairman of the US Commodity Futures Trading Commission (CFTC) In Timothy mass (Timothy Massad), Professor of Finance at the Massachusetts Institute of Technology Sloan School of Management (WITH) Antoinette Shoar (Antoinette Schoar) and MIT research fellow Neha Narula (Neha Narula).

All of these specialists have many years of experience working with digital currencies and blockchain, so they can give valuable recommendations, to avoid possible problems with regulatory authorities. It is quite possible, that the advisory group aims to expand PayPal's activities in the cryptocurrency space.

Briger advised Softbank Group founder Masayoshi Son (Masayoshi Son) on investing in Bitcoin even before the bull market 2017 of the year. Timothy Massad has served as Chairman of the CFTC since 2014 by 2017 the years. After leaving my post, he called on regulators to approve exchange-traded funds (ETF), tied to bitcoin, to increase transparency in the cryptocurrency industry. Regarding MIT researchers, they began working with blockchain back in 2018 year, using it to create a CSAIL system, allowing you to track police requests.

"We believe, that it is extremely important to interact with the best international specialists, to better appreciate the advantages of the industry and understand its problems", – said Jose Fernandez da Ponte, vice president and head of PayPal’s cryptocurrency division. (JOSE FERNANDEZ DA PONTE).

At the beginning of the year it became known, that PayPal is exploring the possibility of launching a stablecoin, pegged to the US dollar.