Bitcoin payment will change the bank

Bitcoin payment will change the bank

  Biography of the writer and the Aspen Institute (Aspen Institute) CEO Walter Isaacson (Walter Isaacson) has said that the subversion of bitcoin technology in 2015 will reshape the field of payment.

Yesterday in an interview with Alley CNBC program Squawk AI Isaacson stressed that although payment in the field of innovation, such as the Apple Pay for consumers is a step forward, it is found that the very important technology, may disrupt the payment system of bank and credit card. “We can use the payment system more simple and convenient.”

Mr Isaacson said:

Let me feel a bit disappointed that Apple Pay did not launch its financial system, but decided to use people’s credit card.

AI founder Richard Branson Isaacson’s point of view and the Virgin Group (Richard Branson), American Express company chairman and CEO Chenault (Kenneth Chenault) is similar, they all think bitcoin has destructive potential in the field of payment. However, President of the Matthew Driver bitcoin MasterCard Asia has been skeptical.

The potential of micro payment

Isaacson pointed out that in addition to speculative profits, he believes bitcoin has caught on, because of its potential in micro payment.

He said: “I can pay 25 cents, 50 cents or less.”

At present, the traditional bank payment system is not allowed. However, digital currency “zero wallet allows people to easily to reward those songs, blogs, and even newspapers creator.

He said: “it will usher in a new economic space, people can order a little money to sell digital things, and I think it will revive the news and many other industries.”

He published articles on the same topic in LinkedIn recently, he explained above, like ChangeTip, BitWall, Coinbase and other innovative companies will be given new content creators and consumers. And finally from the Alibaba, like Amazon, apple such international giants take part in business.

He wrote:


Mr Isaacson cited mileage and loyalty rewards program as a digital currency micro payment in another case. He explained: “the reward will be transferred to your wallet, you spend it on the internet.”

The digital economy

Although AI Isaacson also acknowledged that in some circles Ribet coins is controversial. Isaacson said: “young people have a great demand for virtual currency.”

The regulatory issues facing the simple solution to bitcoin start-ups, he made a comparison of the banking institutions and the taxi company, he was the disruptive technology Uber (Chinese yuho, popular American app taxi convenience).

He did not Apple Pay like bitcoin has its own technology innovation and financial disappointment, has been widely used and change into the institutional needs of society. On the contrary, this is another form of the use of credit cards.

Isaacson proposed protocol is to allow micro payment, which is included in the web development plan in the early. This will allow users to micro payment, without the need to pay by credit card or PayPal or Apple Pay transaction fee and other expenses.

About the Aspen Institute

The Aspen Institute, English “Aspen Institute”, was established in 1950, headquartered in Washington, is a non-profit organization of international repute, is committed to improving the leadership, to promote leadership and good public policy for the purpose.

The Aspen Institute Center for business education (Aspen Institute Center for Business Education), and encourage enterprise leaders, through mutual exchanges and cooperation, make innovation across the field, so that both sides can make a profit; the organization provides MBA course, let people have a good achievement in the society, the further study of professional knowledge of business management so, the enterprise can have further development.

About Walter Isaacson

Walter Isaacson, a famous American biographer, born in New Orleans, he studied at Harvard University and University of Oxford. After graduation, became a reporter for the British “Sunday times”, which began his occupation career. Served as president of the famous American magazine “time” magazine editor in chief and the global media giant CNN company. Who wrote “Steve Jobs” “Benjamin Franklin: an American life”, “wise men: six friends and they created the world” (Ivan Thomas and co-author), “Einstein: Life” biography of best-selling book etc.. At present, Walter Isaacson and his wife and daughter live in washington.


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