PayPal Co-founder Nosek Luke says investors forced them not to attain their Initial Digital Currency Goal

A cryptocurrency streaming television, Bloxlive. Tv on Thurs Jan.31 uploaded a video where Luke Nosek, a co-founder of PayPal stated that PayPal has an initial plan of creating a digital currency that does not have any dependence on the government or banks that could have been similar to the present crypto.

This was revealed during a panel chat in Davos, Switzerland last week, when the World Economic Forum held its conference. Luke was asked if Wechat Pay, that enables users of WeChat, a Chinese messaging app, that helps users to carry out online payments and send funds with ease, just like PayPal have solved online payment challenges, and if crypto could as well solve the challenges? In his response, Luke said that:

“Many people don’t know this, but the initial mission of PayPal was to create a global currency that was independent of interference by these, you know, corrupt cartels of banks and governments that were debasing their currencies.”

Luke also said that WeChat Pay had achieved a great result in a shorter time online PayPal that was unable to achieve its initial goals due to bureaucracy from Financial institutions like SWIFT, Visa, and Mastercard, that made it not to achieve its initial goal since all was done to make them happy.

Luke added: “We’ve learnt to play.” Luke continued that his ally Elon Musk, who is also a PayPal co-founder could not attain their initial goal of developing the digital currency that would have been similar to the present cryptocurrency as a result of pressure from their investors that forced them to roll out their product without meeting their initial goal.

This has prompted the largest online payment giant to roll out a blockchain reward system to reward its employees with tokens for their ideas and innovations to reduce their mass migration to other blockchain and crypto firms. Luke, in conclusion, praised the Bitcoin and ethereum developers for their resolve in not pushing their idea out before maturity which was a major setback to PayPal although it could boast of more than 254 million users by the third quarter of 2018.