bitcoinvancouver

The GoTo Site for all things Bitcoin in Beautiful Vancouver British Columbia Canada

Can Bitcoin replace PayPal?

Can Bitcoin replace PayPal?

Going Global showcases entrepreneurs taking their businesses around the world, tackling issues like business strategy, marketing and international logistics.

(CNN) — When Bitcoin’s architect first unleashed the idea of creating a decentralized virtual currency on the internet, the tech-savvy elite sat up and listened.

That was in 2008. Just a year later, operating under the pseudonym Satoshi Nakamoto, the unknown developer took the concept live. By year-end, over 1.6 million bitcoins had been mined.

 

Bitcoin documentary in the works

 

Bitcoin buzz

 

Has Bitcoin’s bubble already burst?

 

How bitcoins work

Since then, the meteoric rise of the digital currency has continued to capture the world’s attention as financial institutions now examine its viability.

At a time when many have lost faith in the global financial system, Bitcoin is being hailed as the future of e-commerce.

“It’s lower cost, lower risk and a more accessible form of payment from anything else we have today, especially for shopping online,” says Tony Gallippi, founder of BitPay, a Bitcoin payment processing service.

“Credit cards were designed in the 1950s and were never designed for the Internet. It leads to issues like identity theft and payment fraud.”

Gallippi — who recently testified before a U.S. Senate committee on the growth of Bitcoin — explains that the virtual peer-to-peer currency was created to be “borderless by design,” thus opening the door to the international marketplace for smaller merchants.

Advertisements

Questions, Comments, complaints or observations? Your input is important to us.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Information

This entry was posted on December 11, 2013 by and tagged .

Follow me on Twitter

bitcoinvancouver2013@gmail.com

bitcoinvancouver2013@gmail.com

Blog Stats

  • 9,832 hits

Follow me on Twitter

%d bloggers like this: