Just recently PayPal made an announcement about modifying their terms of service in July this year which is likely to stimulate bitcoin payments and transactions. PayPal will make changes to their User Agreement where they indicate that the company will hold rights to the content published by the publishers via this service.
Having said that, this news is anticipated to not go down well with the writing community and they might switch to the Bitcoin transactions rather than giving the rights to their written material to PayPal. Paying via bitcoins will not only bring down the costs of transactions but will also maintain the control within the users of crypto-currencies.
PayPal will Gain Rights over all Intellectual Property
The changes to this controversial amendment will happen by 1st July 2015.
If you have been using PayPal to accept payments for your content posted online, this might change starting from 1st July this year. PayPal will modify its User Agreement and make changes to their Privacy terms by gaining right over all the published content that the writers are paid for by this service. The updated terms of service will take away ownership of the intellectual rights to any content that is provided online.
The Dark Side
If you follow the news closely, you will notice how the large multinational businesses are working closely with the government so that they can control the usage of internet, local government utilities and even the regulation systems through international treaties. These arrangements are made without any public or legislative knowledge which will give control to these businesses on all the aspects of your life.
PayPal has followed suit and joined the darker side of doing business but Bitcoin community propagates freedom from such processes. This is the reason why this technology is said to grow and be the future of way business and money is handled in the future.
PayPal has just touched the wrong chord, perhaps, by making the preposterous change to their terms of service. This move will bring Bitcoin to the forefront as no company will be comfortable in giving PayPal the right to their published content. The people who are one of the writers or know someone is who is should spread this news so that they do not accidently hand over the rights to their intellectual property just because they use their payment service.
You might also like to read about Paypal accepting Dogecoin and Litecoin.