A Quote by Gil Penchina

It's clear to me now that Ethereum is the new currency of the Internet. It's way ahead of where Paypal was in its day, and it's much more exciting to its customers than Paypal ever was.
After PayPal, I never thought I would get interested in payments again. But bitcoin is fulfilling PayPal's original vision to create 'the new world currency.'
Ten Internets ago, when PayPal was started, it was all these tools that no one had built yet to bring commerce to the Internet. My first startup used PayPal.
One thing I would like to see in Vancouver and Canada is something similar to the PayPal mafia. They were all early employees of PayPal. They all had monster exits with PayPal, and they were able to take their winnings and form a syndicate that co-invests.
I often talk about the PayPal mafia out of San Francisco, people that were in PayPal and got out of PayPal and continue to reinvest in other start-ups and create a huge pay-it-forward type of network there.
We're really thinking how do we re-imagine PayPal almost as a service. PayPal as a SaaS platform.
The Internet Treasure companies tend to go public rather than get acquired, although there are clear exceptions, like Instagram, YouTube, Skype and PayPal.
PayPal claims it can help merchants expand into international markets; its system makes it easier to do business with customers in multiple countries, for example, by handling tricky stuff like currency conversions automatically.
What we want to do to monetize Venmo is to add more and more capabilities. Anywhere you see a PayPal merchant, you can click on that button and actually use your Venmo account to check out at that merchant. Then we'll monetize that transaction exactly the same way we monetize a PayPal transaction.
PayPal exists because banks are not interoperable: I can't efficiently pay you $10 unless I'm giving you a $10 bill. So we're all on PayPal and Venmo, I need interoperability on the same ledger.
We had a mission at PayPal - which was to create a new financial system, a new world currency, and we failed. We were a financial success, but we didn't succeed at the purpose of our company.
Make no mistake - Ethereum would never have existed without Bitcoin as a forerunner. That said, I think Ethereum is ahead of Bitcoin in many ways and represents the bleeding edge of digital currency.
PayPal, which was founded in 1998, may be the closest thing to a global currency that has ever been created. Based in San Jose, California, the company operates in 190 markets, sending and receiving payments in 24 currencies on behalf of 90 million active members.
Nowadays people talk about PayPal's founders as prescient geniuses who would inevitably change the world. It was, however, not so obvious that PayPal would taste its first major success by helping people sell Beanie Babies on eBay. But they had a vision, a hope, and the perseverance to try multiple iterations until they got it right.
PayPal came within an inch of being shut down by regulators when they started. The feds seizing the Dwolla account and stealing the money that is owned by Mt. Gox customers is more proof that Bitcoin is the superior payment system.
The moment we put up the PayPal button, some guy donated $300. That's when we realized that if you give somebody a chance to support something on the Internet, they'll do it.
Technology has come a long way since PayPal.
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