While attending PayPal X Innovate 09 in San Francisco this week, there was a very interesting theme that PayPal presented to attendees: cash is dead.
Not really, but PayPal seems to think that cash is overrated and inefficient. At the end of the day, digital dollars should rule the world. It could not only be safer, but more convenient and very much easier to manage. “No cash? No problem, we accept PayPal too!” Now all you have to do is take out your phone and send the money to any of the many companies that will plug into PayPal’s new open API. This could be done via a text, mobile formatted site, or from inside a mobile app. On a global scale, you could make payments on the fly while you’re in another country. No currency conversions necessary. All of that will be done for you.
Sounds neat right? But could you really see your company doing business in such a way? Share your thoughts on what you think about PayPal’s vision for the future of money.