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Mobile payment startup Square brings a virtual currency world closer with new partnership with Coinbase

A sci-fi world where we all car­ry vir­tu­al cur­ren­cy in pref­er­ence to the ‘real’ stuff has come a step clos­er, thanks to a new part­ner­ship between the increas­ing­ly pop­u­lar mobile pay­ment provider Square and Bit­coin wal­let Coin­base. It doesn’t take a sea­soned prod­uct man­ag­er to rec­og­nize that this is a poten­tial­ly big devel­op­ment for the future of the cryp­tocur­ren­cy. Sim­ple and pain­less for buy­er and sell­er alike All goods and ser­vices on the startup’s online store­front, Square Mar­ket­place, will now be avail­able to buy with Bit­coin as well as with tra­di­tion­al bank or cred­it cards (the Mar­ket­place in a kind of vir­tu­al one-stop-shop fea­tur­ing items from ecom­merce mer­chants who are actu­al­ly geo­graph­i­cal­ly scat­tered across the world). The more skep­ti­cal prod­uct man­ag­er may be spec­u­lat­ing whether this is just a shame­less attempt to ride the Bit­coin hype wave; but he or she would be wrong. Square’s mar­ket lead, Ajit Var­ma, explains in the com­pa­ny blog announc­ing the move that sell­ers won’t notice any­thing dif­fer­ent (apart per­haps from bet­ter sales) and buy­ers will find it sim­ple and pain­less, thanks to the adroit tech­no­log­i­cal pro­cess­ing Square has put in place. Buy­ers sim­ply scan the QR code in their Bit­coin wal­lets to load the…

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