Advertisement
AD

Main navigation

Error message

  • Warning: Undefined array key 1 in Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard() (line 3111 of modules/custom/cryptocompare/src/TwigExtension/RemoveSpace.php).
    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('<a href="https://u.today/wells-fargo-bank-submits-patent-for-tokenization-system-to-secure-valuable-data">US Patent Office</a> (USPTO) has given Square, an online payment operator, an approval to create a network in which &nbsp;merchants can make settlements in virtual coins along with fiat money.
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    
    
    
    
    Crypto payment predecessors
    
    Square is not the only company that lets entrepreneurs take money for their goods in <a href="https://u.today/bitcoin-cash-dropping-in-commercial-use-analysts">virtual coins</a> and that can be changed into the local fiat money automatically. BitPay has been doing it with Bitcoin for seven years already, working with BTC payments.
    
    One difference is that Square has got a great number of customers already, so this should help the company to handle the new option well adding it to its POS system. Its customers will not have to use any third-parties to pay in crypto for the goods they have chosen.
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    Getting rid of transaction latency
    
    The POS system of Square also allows working without latency when conducting crypto operations, in this case, BTC<a href="https://u.today/dash-gains-27-percent-as-south-america-gets-krip-phone-with-dash-wallet-built-in"> transactions</a> can be verified within an approximately the same time period that takes a bank card transaction.
    
    Transactions will be recorded on an isolated blockchain from <a href="https://u.today/coinbase-wallet-adds-new-payment-dapp-xnk-coins-based-on-ink-protocol">wallets</a> run by Square in the real-time mode. This will enable the POS system to recognize the changed balances and only after that the transactions will be fixed on the public blockchain. Unfortunately, the patent warns that this still leaves a change for double spending. However, this risk will be transferred from the seller to the payment company.
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    Will it actually be done?
    
    There is certainly a risk that Square simply will not apply its patent deciding not to mess with virtual currencies if it considers that the new type of money is just a waste of time, as it happened with Bank of America that spent a lot of time toying with the idea of <a href="https://u.today/philippine-farmers-to-receive-salaries-with-blockchain-powered-app">crypto payments</a> but then gave it up not believing in its future.
    
    However, Jack Dorsey, the Square CEO, actually reckons that Bitcoin could turn into a common payment option on the Web within the next ten years.
    ') (Line: 1133)
    Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
    __TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array) (Line: 474)
    Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1002)
    __TwigTemplate_625426e732c5f7a66fde6d628d98a6b2->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 62)
    __TwigTemplate_e934e56c1e459c359b150360c7169113->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
    Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
    Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
    Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
    Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
    Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
    call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
    Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
    Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 76)
    Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
    Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
    Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
    Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
    Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
    Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
    
  • Warning: Undefined array key 1 in Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard() (line 3114 of modules/custom/cryptocompare/src/TwigExtension/RemoveSpace.php).
    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('<a href="https://u.today/wells-fargo-bank-submits-patent-for-tokenization-system-to-secure-valuable-data">US Patent Office</a> (USPTO) has given Square, an online payment operator, an approval to create a network in which &nbsp;merchants can make settlements in virtual coins along with fiat money.
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    
    
    
    
    Crypto payment predecessors
    
    Square is not the only company that lets entrepreneurs take money for their goods in <a href="https://u.today/bitcoin-cash-dropping-in-commercial-use-analysts">virtual coins</a> and that can be changed into the local fiat money automatically. BitPay has been doing it with Bitcoin for seven years already, working with BTC payments.
    
    One difference is that Square has got a great number of customers already, so this should help the company to handle the new option well adding it to its POS system. Its customers will not have to use any third-parties to pay in crypto for the goods they have chosen.
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    Getting rid of transaction latency
    
    The POS system of Square also allows working without latency when conducting crypto operations, in this case, BTC<a href="https://u.today/dash-gains-27-percent-as-south-america-gets-krip-phone-with-dash-wallet-built-in"> transactions</a> can be verified within an approximately the same time period that takes a bank card transaction.
    
    Transactions will be recorded on an isolated blockchain from <a href="https://u.today/coinbase-wallet-adds-new-payment-dapp-xnk-coins-based-on-ink-protocol">wallets</a> run by Square in the real-time mode. This will enable the POS system to recognize the changed balances and only after that the transactions will be fixed on the public blockchain. Unfortunately, the patent warns that this still leaves a change for double spending. However, this risk will be transferred from the seller to the payment company.
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    Will it actually be done?
    
    There is certainly a risk that Square simply will not apply its patent deciding not to mess with virtual currencies if it considers that the new type of money is just a waste of time, as it happened with Bank of America that spent a lot of time toying with the idea of <a href="https://u.today/philippine-farmers-to-receive-salaries-with-blockchain-powered-app">crypto payments</a> but then gave it up not believing in its future.
    
    However, Jack Dorsey, the Square CEO, actually reckons that Bitcoin could turn into a common payment option on the Web within the next ten years.
    ') (Line: 1133)
    Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
    __TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array) (Line: 474)
    Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1002)
    __TwigTemplate_625426e732c5f7a66fde6d628d98a6b2->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 62)
    __TwigTemplate_e934e56c1e459c359b150360c7169113->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
    Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
    Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
    Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
    Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
    Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
    call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
    Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
    Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 76)
    Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
    Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
    Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
    Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
    Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
    Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
    
  • Warning: Undefined array key 1 in Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard() (line 3111 of modules/custom/cryptocompare/src/TwigExtension/RemoveSpace.php).
    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('<a href="https://u.today/wells-fargo-bank-submits-patent-for-tokenization-system-to-secure-valuable-data">US Patent Office</a> (USPTO) has given Square, an online payment operator, an approval to create a network in which &nbsp;merchants can make settlements in virtual coins along with fiat money.
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    
    
    
    
    Crypto payment predecessors
    
    Square is not the only company that lets entrepreneurs take money for their goods in <a href="https://u.today/bitcoin-cash-dropping-in-commercial-use-analysts">virtual coins</a> and that can be changed into the local fiat money automatically. BitPay has been doing it with Bitcoin for seven years already, working with BTC payments.
    
    One difference is that Square has got a great number of customers already, so this should help the company to handle the new option well adding it to its POS system. Its customers will not have to use any third-parties to pay in crypto for the goods they have chosen.
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    Getting rid of transaction latency
    
    The POS system of Square also allows working without latency when conducting crypto operations, in this case, BTC<a href="https://u.today/dash-gains-27-percent-as-south-america-gets-krip-phone-with-dash-wallet-built-in"> transactions</a> can be verified within an approximately the same time period that takes a bank card transaction.
    
    Transactions will be recorded on an isolated blockchain from <a href="https://u.today/coinbase-wallet-adds-new-payment-dapp-xnk-coins-based-on-ink-protocol">wallets</a> run by Square in the real-time mode. This will enable the POS system to recognize the changed balances and only after that the transactions will be fixed on the public blockchain. Unfortunately, the patent warns that this still leaves a change for double spending. However, this risk will be transferred from the seller to the payment company.
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    Will it actually be done?
    
    There is certainly a risk that Square simply will not apply its patent deciding not to mess with virtual currencies if it considers that the new type of money is just a waste of time, as it happened with Bank of America that spent a lot of time toying with the idea of <a href="https://u.today/philippine-farmers-to-receive-salaries-with-blockchain-powered-app">crypto payments</a> but then gave it up not believing in its future.
    
    However, Jack Dorsey, the Square CEO, actually reckons that Bitcoin could turn into a common payment option on the Web within the next ten years.
    ') (Line: 1133)
    Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
    __TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array) (Line: 474)
    Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1002)
    __TwigTemplate_625426e732c5f7a66fde6d628d98a6b2->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 62)
    __TwigTemplate_e934e56c1e459c359b150360c7169113->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
    Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
    Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
    Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
    Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
    Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
    call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
    Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
    Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 76)
    Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
    Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
    Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
    Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
    Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
    Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
    
  • Warning: Undefined array key 1 in Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard() (line 3114 of modules/custom/cryptocompare/src/TwigExtension/RemoveSpace.php).
    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('<a href="https://u.today/wells-fargo-bank-submits-patent-for-tokenization-system-to-secure-valuable-data">US Patent Office</a> (USPTO) has given Square, an online payment operator, an approval to create a network in which &nbsp;merchants can make settlements in virtual coins along with fiat money.
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    
    
    
    
    Crypto payment predecessors
    
    Square is not the only company that lets entrepreneurs take money for their goods in <a href="https://u.today/bitcoin-cash-dropping-in-commercial-use-analysts">virtual coins</a> and that can be changed into the local fiat money automatically. BitPay has been doing it with Bitcoin for seven years already, working with BTC payments.
    
    One difference is that Square has got a great number of customers already, so this should help the company to handle the new option well adding it to its POS system. Its customers will not have to use any third-parties to pay in crypto for the goods they have chosen.
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    Getting rid of transaction latency
    
    The POS system of Square also allows working without latency when conducting crypto operations, in this case, BTC<a href="https://u.today/dash-gains-27-percent-as-south-america-gets-krip-phone-with-dash-wallet-built-in"> transactions</a> can be verified within an approximately the same time period that takes a bank card transaction.
    
    Transactions will be recorded on an isolated blockchain from <a href="https://u.today/coinbase-wallet-adds-new-payment-dapp-xnk-coins-based-on-ink-protocol">wallets</a> run by Square in the real-time mode. This will enable the POS system to recognize the changed balances and only after that the transactions will be fixed on the public blockchain. Unfortunately, the patent warns that this still leaves a change for double spending. However, this risk will be transferred from the seller to the payment company.
    
    <a rel="nofollow" target="_blank" href="#">card</a>
    
    Will it actually be done?
    
    There is certainly a risk that Square simply will not apply its patent deciding not to mess with virtual currencies if it considers that the new type of money is just a waste of time, as it happened with Bank of America that spent a lot of time toying with the idea of <a href="https://u.today/philippine-farmers-to-receive-salaries-with-blockchain-powered-app">crypto payments</a> but then gave it up not believing in its future.
    
    However, Jack Dorsey, the Square CEO, actually reckons that Bitcoin could turn into a common payment option on the Web within the next ten years.
    ') (Line: 1133)
    Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
    __TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array) (Line: 474)
    Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1002)
    __TwigTemplate_625426e732c5f7a66fde6d628d98a6b2->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 62)
    __TwigTemplate_e934e56c1e459c359b150360c7169113->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
    Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
    Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
    Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
    Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
    Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
    call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
    Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
    Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 76)
    Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
    Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
    Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
    Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
    Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
    Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
    

Square, Electronic Payments Operator, Patents Crypto Settlement Service

Advertisement
Thu, 30/08/2018 - 10:01
Square, Electronic Payments Operator, Patents Crypto Settlement Service
Cover image via U.Today
Read U.TODAY on
Google News

US Patent Office (USPTO) has given Square, an online payment operator, an approval to create a network in which  merchants can make settlements in virtual coins along with fiat money.

Advertisement

Crypto payment predecessors

Square is not the only company that lets entrepreneurs take money for their goods in virtual coins and that can be changed into the local fiat money automatically. BitPay has been doing it with Bitcoin for seven years already, working with BTC payments.

One difference is that Square has got a great number of customers already, so this should help the company to handle the new option well adding it to its POS system. Its customers will not have to use any third-parties to pay in crypto for the goods they have chosen.

card

Getting rid of transaction latency

The POS system of Square also allows working without latency when conducting crypto operations, in this case, BTC transactions can be verified within an approximately the same time period that takes a bank card transaction.

Transactions will be recorded on an isolated blockchain from wallets run by Square in the real-time mode. This will enable the POS system to recognize the changed balances and only after that the transactions will be fixed on the public blockchain. Unfortunately, the patent warns that this still leaves a change for double spending. However, this risk will be transferred from the seller to the payment company.

card

Will it actually be done?

There is certainly a risk that Square simply will not apply its patent deciding not to mess with virtual currencies if it considers that the new type of money is just a waste of time, as it happened with Bank of America that spent a lot of time toying with the idea of crypto payments but then gave it up not believing in its future.

However, Jack Dorsey, the Square CEO, actually reckons that Bitcoin could turn into a common payment option on the Web within the next ten years.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD