PayPal Being Supported By AI Marketplace SingularityNET

• Ben Goertzel spoke at BlockShow Asia 2019 where he revealed that support would be coming in for PayPal transactions.
• This is a move that will see SingularityNET have easy access to PayPal’s millions of worldwide users. 
• At the same event, the co-founder of QUOINE, Mike Kayamori appeared on-stage panel at BlockShow Asia.

The Chief Scientist and CEO of the decentralised AI marketplace SingularityNET, Ben Goertzel spoke on stage at BlockShow Asia 2019 earlier this week where he revealed that new support would be coming in for conventional PayPal transactions in order to support the purchase of the platform’s AGI tokens.

“We’re excited about this. It opens the door for new ways to promote and grow the network,” Goertzel said.

This is a move that will see SingularityNET have easy access to PayPal’s millions of worldwide users. 

If you look to early iterations of this marketplace, it required customers to pay for AI services provided by AI agents in the network through utilising the AGI utility token. This conventional PayPal implementation means that users won’t necessarily need any experience with cryptocurrency to use the platform correctly.

As per CoinTelegraph:

“The technology on the backend converts fiat PayPal transactions directly into AGI utility tokens. Those tokens drive the AI agents that provide services on SingularityNET. It happens invisibly, the user doesn’t need to concern himself with AGI tokens at all. They simply pay for AI services from an AI agent on the marketplace with PayPal, and get the services they require.”

BlockShow Asia

At the same event, the co-founder of QUOINE, Mike Kayamori appeared on-stage panel at BlockShow Asia. As previously reported by CryptoDaily, Kayamori affirmed that he has always been in favour of crypto regulation but has started to get cold feet on the technology saying, "Crypto is evolving, and the government can't try to regulate things it still doesn't understand.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!