🚨Breaking _News
🔒⛓️ PayPal files for patent for NFT purchase and transfer system!
According to Cointelegraph,#paypalhas applied for a patent for a system for purchasing and transferring non-fungible tokens (NFTs), marking an important step in creating its own blockchain ecosystem. 📜🔐
PayPal envisions using the full potential of NFTs for tokenization, expanding beyond the exchange of electronic collectibles.#NFTcan represent any unique piece of digital data that can be tracked using a decentralized blockchain ledger, such as digital images, videos, music, collectibles, and works. other digital art, as well as deeds to personal property, event tickets, legal documents, and other physical items. 🖼️🎶💰
Service provider processing may include compliance and risk management. Users can have their own digital wallet but it is not required. A third-party broker may offer a variety of alternative hosting and payment services. Off-chain transactions can be managed in an 'omnibus wallet' linked to the service provider and containing both buyer and seller wallets, eliminating the need to register transfers on#blockchain or pay gas fees associated with on-chain transactions. The application clearly states that any currency can be used in the system. In August, PayPal introduced its own #stablecoin, PayPal USD (PYUSD), which is built on#Ethereum . 💼💳💪
