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launching a competing currency is illegal in the US, so PayPal 'pivoted' into a payment method facilitating the existing fiat currencies
"In the book’s first chapter, Jackson recalls a speech Thiel gave to Confinnity employees, just a few days after he began work, in which he described his hopes for PayPal to become a borderless private currency."
History repeats: with Libra, FB is aiming for the same thing Thiel/Levchin had in mind in the early days of PayPal: cato.org/publications/c…
In case you are interested in ‘the economics game’, the intersection of new media, markets the money system and emerging phenomena like Bitcoin, I highly recommend the PhD-thesis Monopoly Moneys [PDF alert] by media theorist Rushkoff, now it is available … Lees verder