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This article was published on October 1, 2009

PayPal and the Future of Money (or: how cash is about to become obsolete)

PayPal and the Future of Money (or: how cash is about to become obsolete)
Boris Veldhuijzen van Zanten
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Boris Veldhuijzen van Zanten

Founder & board member, TNW

Boris is a serial entrepreneur who founded not only TNW, but also V3 Redirect Services (sold), HubHop Wireless Internet Provider (sold), and Boris is a serial entrepreneur who founded not only TNW, but also V3 Redirect Services (sold), HubHop Wireless Internet Provider (sold), and pr.co. Boris is very active on Twitter as @Boris and Instagram: @Boris.

Paypal’s Osama Bedier, VP product development, gave a funny and inspiring talk at FOWA today about the Future of Money.

He used a few interesting metaphors for how technologies generally take off once the most important barriers to entry are gone. By opening up PayPal to developers they hope to entice developers to come up with new product and services that will eventually make cash obsolete.

Paypal now openly asks “How will you change the way we pay?” and asks everybody to submit their ideas via Twitter with hashtag #changehowwepay. The responses are collected, and available for everybody, at changehowwepay.com.

If you think you have an idea that could change the way we all pay and make cash obsolute you should sign-up for PayPal X Innovate 2009 conference which takes place November 3-4, 2009 in San Francisco.

All of these things were announced earlier but I hadn’t really given it much attention. Looking at this movie, shown during the presentation, gave me a better idea of the possibilities of the future of money. Hope you enjoy it too: