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Elon Musk company Invests in Blockchain, What is Elon Musk Company ...?

Written By Hanny & Melissa on Saturday, April 13, 2019 | Saturday, April 13, 2019

The first time after blockchain technology blared, the company Elon Musk finally decided to invest in the technology by pouring funds into a pilot company, the Cambridge Blockchain.

The company focuses on implementing the blockchain in the sector of personal identity control without the role of third parties such as Facebook. This is similar to using Bitcoin without a bank.

Part of that investment, with the Cambridge Blockchain platform, future PayPal users can prevent personal information from being used or shared with other parties.

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This is similar to Mark Zuckerberg's claim before, when users log in on Facebook, the information cannot be seen especially "sold" by outsiders. In short, there is privacy upheld.

Indeed, not this time PayPal tried to approach blockchain technology. Earlier in March 2018, Elon Musk's company had submitted a blockchain patent proposal.

On paper, the patent allows speeding up crypto transactions and is used on employee payroll systems. "We invest in the Cambridge Blockchain, because implementing blockchain technology for digital identity has benefits for financial companies such as PayPal. "PayPal spokesman (forbes.com/ auth)

Before getting funding from PayPal, Cambridge Blockchain previously received funds from other companies, including Omidyar Network and Foxconn's HCM Capital.

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To know, PayPal Inc. Is a company in the network that provides money transfer services via electronic mail, replacing old methods that still use paper, such as checks and money orders.

PayPal also provides services for e-commerce site owners, customers, and other types of businesses. The headquarters of this company is located in San Jose, California, United States.

Meanwhile, Understanding Blockchain is a transaction recording technology integrated with modern technology, which has a unique, irreversible code that revolutionizes the workings of the internet, banking and other things.

So from the author, and finally said hopefully PayPal and Blockchain will always work well together, so that in the future paypal is a transfer traffic that can receive and send digital currencies to its users.

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