Bitcoin will become the solution of global travelers
Bitcoin distributed to the center of the platform continues to gain the attention of observers of the centralized payment system. In today’s global economy, one of the benefits of bitcoin is provided as a global currency. Bret Swanson yesterday in the “Chicago Tribune” (Chicago Tribune) said bitcoin can reduce international travelers often encountered in foreign payment problems.
Entropy Economics economic research technology company and the Venture Capital Firm Entropy Capital CEO Bret Swanson had recently encountered difficulties and bitcoin link up, things happen to his teenage daughter in France on the way to need to pay the purchase. A few days ago to go to France, he loaded the prepaid Visa card and American Express credit card (American Express), but in a small font when reading realize that they may not be available in all countries. Because he waited for some time, so only a few days, was issued by a bank debit card time is not enough. Fortunately, he can take the money to a friend’s debit card let her use. But she began to use the card after a week, a ATM machine “Paris swallow” the debit card.
“This story shows that the global system of money and pay have not kept pace with the frictionless digital economy,” Swanson explained. He will try to reduce fraud and bank payment in accordance with the anti money laundering law as ordinary people future payment complex credit card.
He observed that bitcoin offers a solution. Bitcoin does not depend on the payment card network, bank and government monetary authorities. For these reasons, bitcoin has become an important platform for developing the remittance.
Swanson acknowledged that bitcoin has some limitations: it has not been accepted by many businessmen, and it “and in the rest of the economy when the interaction is not without friction”. Bitcoin price volatility is also a problem, although many people think that over time it will not be a problem.
Bitcoin stressed that the current financial problems
“In any case, bitcoin (and more generally block chain technology) some of the essential issues in decentralized information, the complex world has been resolved. And it highlights our current monetary and financial platform some unnecessary and frustratingly difficult.”
As a distributed trust to the center of the platform, bitcoin may reduce many of the problems we concentrated payment system in these headaches, the more centralized payment system is based on the bank payment network, and the national laws and regulations.