Difficulty in the use of Bitcoin and Satoshi as legal tender in day-to-day transaction has long been cited as one of the chief obstacles to its wider use by non-payment industry sophisticates. The apparent intention of online and mobile payment enabler PayPal to provide a solution to this problem is here. The international payments processor PayPal
has filed a patent application with the US Patent and Trademark Office for a payment device that will be able to process crypto currencies including Bitcoin.
The application also describes physical characteristics of the device, and it includes an image of the device. The application’s abstract describes a modular payment module. The module includes a chassis which has a modular device connector. A payment database in the chassis stores funding source information and security information.
The application signals a possible bitcoin integration for PayPal, which the company hinted at in 2014.
It describes a system that includes multiple virtual currency cards, each of which corresponds to a specific virtual currency wallet.
The virtual currency system includes a virtual currency wallet; a non-transitory memory including instructions to provide a virtual machine that is configured to give access to the wallet; and one or more hardware processors coupled to the card and the memory, where in one or more processors read instructions from the memory to perform operations.
Each virtual card has a different virtual currency wallet that stores one or more private keys that provide the ability to transfer the virtual currency associated with one or more public addresses.
The virtual currency system includes a virtual currency wallet; a non-transitory memory including instructions to provide a virtual machine that is configured to give access to the wallet; and one or more hardware processors coupled to the card and the memory, wherein one or more processors read instructions from the memory to perform operations.
The wallet provides the ability to manage and store multiple virtual currency wallets of the same and/or different types of virtual currency, while presenting three security layers to a user attempting to access a virtual currency wallet to transfer virtual currency to another user.
