“The conference attracted big companies like Google, Visa, and PayPal along with smaller upstarts, which created a dynamic of gentle rivalry. Among the larger companies, Google, PayPal, and Square are launching their own mobile wallets. Some startups are taking a similar approach. Another attendee, Gabriel Sukenik, wore a pin on his lapel displaying the symbol for bitcoin, the algorithm-based ‘digital currency’ that is unregulated, untaxed, and traded online. Bitcoin’s supporters say a major advantage is that, because it doesn’t have to pass through currency exchangers who each take a cut of the sum, it’s cheaper to transfer money around the globe.”
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