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July 14, 2013, 03:14:22 AM |
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The world is changing alarmingly fast. The internet is not a fad but something that is becoming a bigger part of all our lives every day. Crypto-currency will change the nature of internet business because it is safer, efficient, and cost effective.
While the media paints a picture of a shadowy underground riddled with criminals and “evil-doers”, one of the biggest benefits to using crypto-currency is that it completely negates issues of identity theft. It’s a much safer way to conduct transactions online. A consumer doesn’t have to worry about giving out a credit card number which in the wrong hands could have very negative consequences to that consumer. Consumers don’t have to worry about cancelling reoccurring payments or losing their plastic to find some unscrupulous individual has made unwanted charges. In the bigger picture, society doesn’t have to worry about insolvent banks shifting their losses to the taxpayer. There is no fractional reserve banking with Crypto-currency and thus no legalized fraud.
It’s a much more efficient way to conduct business. It’s faster than wire transfers, or waiting for checks to clear, or charges on cards to process. It’s easier to use, a simple key allows direct transactions all over the world, 24/7, with no bank holidays.
It’s cost effective. There are no fees or hidden charges. Because it is safer consumers will be more likely to transact business online, and thus conduct more business. With all these benefits it’s simply a matter of time before the general public adopts its widespread use. What form that will take is hard to say. However, what other technology is safe, efficient, and cost effective enough to meet the demands of a world that increasingly has need for these benefits?
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