After the news that PayPal will allow the customers to pay for goods and services with crypto assets like Bitcoin, it has been announced that it is ending the relationship with Epik because of the risks and other issues from the crypto department.
Epik’s departure from PayPal
Typically, the company works with PayPal by registering the web domains and then hosting the enterprise’s transactions. However, the transactions will no longer be handled for PayPal. The SVP of strategy and communication for Epik, Robert Davis, elaborated in an open letter:
“I wanted to let you know that I absolutely loved PayPal as a company. In fact, I saw you as a champion for those who were struggling in society that could not obtain credit cards or easily open a bank account for that matter. PayPal has been a critical resource for hundreds of millions of people around the world and existed as another shining example of American innovation to push the boundaries for economic empowerment.”
PayPal elucidated in a dispersed statement that the company’s executives were not eager to take probabilities with Epik’s new cryptocurrency Master Bucks, which can be acquired and transformed into USD. It can also be used to purchase web domain services. There are still testified legal questions that float around the use of Master Bucks, which is why PayPal seems to be stepping away.
Purportedly, the digital payment firm has tried to classify that some of the problems neighboring the cryptocurrency over a month ago. However, the company has not managed to make any headway yet.
Though, Epik claimed that no problems are surrounding its new cryptocurrency, and the decision for PayPal to step away stalks from a concealed political agenda. Davis enlightens in his letter:
“PayPal’s recent decisions have been so horrifying to directly observe and witness, as you have taken unthinkable actions that are far beyond any past precedent I’ve seen for abuse of power and overreach by a de factor monopoly. It appears that in a direct effort to silence conservative voices, PayPal has terminated our payment services – just two weeks before a presidential election. While the concept of technology firms targeting conservative-owned companies to demonetize and deindex users is not unknown to us, the degree of tyranny and oppression that this particular action represents cannot go unaddressed by the American people.”
His letter doesn’t mention Master Bucks, and as an alternative, it has implied that the company tries to shut out the conservative individuals and companies alike. Even if this is true, it would be the identical pattern that’s possibly being followed by other key tech companies like Twitter, which had a history of editing conventional points of view and is now taking the flak for repressing a New York Post story that shines a light on a scandal linking Hunter Biden – the son of democratic presidential candidate Joe Biden.