Digital currency opens the door to a new era of customized solutions
Bitcoin technology is a combination of many ideas and technical innovations at the same time, bringing cryptography and file-share technology together in the concept of peer review through a decentralized computer network.
Nowadays Bitcoin is not the only digital currency available. There are many others. Some coins bring improvements compared to the Bitcoin protocol, e.g. lower confirmation intervals; some are just replications without major changes. The innovative fast, secure and cheaper Bitcoin technology is ready to be used for custom-made coins catering to industry-specific needs of businesses that transact in the multinational space. Applications that speed up payments to improve cash flow management and accelerate the supply chain are the next generation’s financial services.
Beyond that, it is vitally important to understand that digital currency is not only an electronic version of the ancient concept of “Bill of Exchange” used to transfer money over long distances. Bitcoin technology used for digital money is just one out of many possible applications. The network can be used in various fields supporting a diverse range of use cases which can be turned into viable business opportunities.
Use cases span from document transfer, and notarization services to copyright protection. Providing cryptographic protocol services for fast and secure online transfer of official documents is one much-noticed concept. In this scenario, deeds, certificates, and contracts are safely sent via the block chain rather than using couriers. This use case addresses the digitization needs of banks, post offices, courier services, law firms, and government agencies offering globalized services for the 21st century. Furthermore, providing notarization services to protect intellectual property and save brands, and the creative industry from copyright infringement is another encouraging use case where our research and development departement is ready to assist enterprise customers.
Based on our expertise in the field of alternative payment options and ecommerce, Payment21® provides consulting and R&D services building customized solutions for the digital money ecosystem covering the needs of multinational enterprises, government organizations, and financial institutions.