PayPal tried and failed in its stated mission to create a “new world currency,” but Bitcoin is stepping up and fulfilling PayPal’s original vision.

It’s a long road to travel for a new means of commerce to gain traction and eventual acceptance. Bitcoin has finally reached such a stage as the digital currency has soared in value over the last year. While digital currencies are all the rage, there have been notable attempts at creating a new economic ecosystem in the past, and the most successful of these is PayPal. What is interesting, and pointed out by VentureBeat, is that Bitcoin is actually accomplishing the original purpose of PayPal, which was to create a “new world currency.”  Read more...