Say hello to my little friend
IDEA No 54
THE DIGITAL WALLET
‘Paper money is an ancient technology. You can run out of it. It wears out. It can get lost or stolen. In the twenty-first century, people need a form of money that’s more convenient and secure, something that can be accessed from anywhere with an internet connection.’
With these words, Peter Thiel launched PayPal, an online payment system that changed the way the world does business. A year earlier, in December 1998, Thiel had co-founded Confinity, a remote payment platform for Palm Pilots. At the same time as Confinity launched its website, an online financial services company called X.com was launching its own site. Both companies were located on University Avenue in Palo Alto, California. ...
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