Will digital cash overtake traditional currencies?
One of the most heated debates in the Bitcoin community today is whether crypto coins such as Bitcoin will ever triumph over the mighty USD to become the world’s primary means of payment for cross-border transfers. Reading through numerous threads and blogs, our research shows that many Bitcoin enthusiasts believe this scenario is not only possible, but is bound to happen in the not-so-distant future.
Powerful currencies have fallen in the past
Here we provide a simple comparison of definitions in different jurisdictions including Germany, UK, USA, Japan, Canada, China, Singapore, India, Russia, Switzerland, Sweden, Norway, New Zealand, Finland, Brazil, Estonia, and Denmark.
In this article we provide a simple comparison of VAT (Value Added Tax) in different jurisdictions including Germany, UK, USA, Japan, Canada, China, Singapore, India, Russia, Switzerland, Sweden, Norway, New Zealand, Finland, Brazil, Estonia, and Denmark.
Many comments have been devoted to Bitcoin’s contribution in simplifying the legacy clearing and settlement system; but surprisingly, most of these articles lack a fundamental explanation to the mechanism of global payment system and the roles of central banks in global payment system. This article tries to bridge that knowledge gap and provide a simplistic description of the global payment systems.
In this article we will discuss how does settlement of securities takes place, i.e. If “A” sells some shares to “B”, how do these shares actually move from A’s account to B’s? What is actually “moving”? What does it mean by “account”? Who is involved? What are the moving parts? We’ll start with a simple explanation of how the process works in case of paper based share certificates and then move on to the modern electronic systems.
Since its introduction in 2009 as the first crypto-currency, Bitcoin (BTC) has gained a lot of attention: both good and bad. Through these years, Bitcoin has been associated with a series of scams, money laundering, hacks, thefts, loss of wallets, and failed “Bitcoin exchanges”. As witnessed during 2013, BTC continues to gain popularity among people at an exponential rate, and more and more people are interested in buying BTC. However, most new users are unaware of the security issues that come with the crypto-currency.
What is stopping Bitcoin from becoming a mainstream payment method?
Bitcoin network main problems
One major issue with Bitcoin is the size of the block chain. Why is it a problem and how could it be solved – these are the questions many people ask.
To understand bitcoins, whether it’s out of intellectual purpose or out of investment purpose, it is important to understand what are the real meanings of some jargons, namely, mining and block chain etc. Among them, block chain is the most critical one that should be fully understood.
What is block chain?
The growth of electronic payments and e-commerce development in Russia is exponential. As a confirmation new giant players try not to lose opportunities and enter the market. Most remarkably, in mid-September 2013 Paypal started accepting payments in Russian rubles.
Massive consumer boom in Africa
As the Internet becomes more and more accessible, affordable and faster in countries like South Africa, Kenya, Nigeria, e-commerce is ready to take off.
Fragmented payment methods on the continent