PayPal Exec Unwittingly Makes the Case for Bitcoin

By Mark Norton: Editor @

Patrick Gauthier, General Manager of Emerging Retail Services at PayPal published an interesting article on yesterday. It was a good read, talking about the progress of technology and the sometimes unexpected turns it takes and the future of money. What really struck me most about his article is that with very little editing at all, he could be talking about Bitcoin.

Gauthier starts the article when he takes the occasion of some computer problems he and his son are trying to troubleshoot to reflect on how far we have come with computer technology. He reflects that years ago he had abandoned Apple products for Microsoft because Apple was too inflexible for his needs. Now, though, his most indispensable computer is an Apple tablet that does nearly everything he needs seamlessly and without the need for days of tedious troubleshooting.

The connection, he says, is that twenty years ago credit card companies were promising a revolution in payment systems that would let people stop worrying about how they were paying for things, but simply let them enjoy the experience. What followed was years of over-promise and under-deliver. People were treated to complicated systems and plans that although necessary for the way the world was evolving, really left no one happy.

It’s Gauthier’s thesis that technological innovations now in the works, of course with PayPal at the center, are in the process of doing for payment systems what the iPad did for computing