PayPal, one of the largest financial companies in the world, is looking for new blockchain experts to work in the New York office.
Combating Financial Crimes
Many financial companies / exchanges, including crypto exchanges, must now comply with various laws such as KYC and AML. Therefore, companies are obliged to examine the transactions they mediate in detail, to detect illegal transactions in a short time and to inform the authorities.
PayPal decided to expand its staff to identify these transactions more easily and to combat financial crime more effectively. The company wants to work with blockchain experts during this process.
This person, who will work as a manager at PayPal’s New York office, must have 10 years of experience in legal compliance. If hired, this person will examine their financial investigations, investigate innovations in the blockchain industry, and will generally report on the new uses of the blockchain.
PayPal and Blockchain
The fact that companies like PayPal are doing this type of research on blockchain is actually an indication that blockchain doesn’t have to be used only in the digital money industry.
PayPal had invested in a company like Cambridge Blockchain some time ago. This company uses the blockchain to track and manage data, not to develop digital money.