Forbes: The arrival of encrypted money is scary

nnnIn the rise of encrypted money and block chain technology, more and more people may know its existence, but few people know, know how many kinds of encryption money is small, let alone its General use. But its rise so that we must do some understanding, including the characteristics, value, use, we should take what measures.n
nnTranslation: Annie_Xun
nMost people who buy houses, cars, or other things on Amazon have never thought about paying in encrypted money. Most people do not know how many kinds of encrypted money (more than 1,000), although many people have heard bit currency.n
nFew people realize that the encrypted currency is also a currency, an investment and a technology: you can use the encrypted currency to buy a house, part of the pension for the currency currency speculation (the final investment in encrypted currency ETF), investment in encrypted currency The underlying technology (block chain).n
nNot surprisingly, banks are more intelligent about smart money than politicians, and many people and start-ups are smarter than banks. The rise of the encrypted currency is similar to the rise of medical and recreational marijuana. “Official institutions”, that is, how long can banks, businesses and governments find opportunities and threats to encrypt money? Their journey of exploration has been opened.n
nWhat do you have to know about encrypted money?n
nn1, the encrypted currency does not exist identity theftn
n2, may be illegal: money laundering is easyn
n3, the government can not control it, although they can also be regulated and taxed (mainly through investment vehicles)n
n4, real-time availablen
n5, more and more companies to accept it, because they will have no choicen
n6, it is volatile: such as the past few years, Bitcoin and Taitong currency fluctuationsn
nBased on the block chain technology, Portia Crowe called it an alternative form of traditional transaction processing. “Block chains are books, like Excel tables, but they accept multiple inputs. The books can only be modified in the case of consensus.” So that they are safe, meaning that there is no need for a central agency to permit trading “n
nWhat are we going to do?n
nn1, create an encrypted currency digital wallet. The traditional currency is converted into Bitcoin, the currency, the currency, the currency, and the currency. Consider the Coinbase website as the beginning, look at the other.n
nnn2, tracking investment tools, personally in the online trading of encrypted currency. Exchange Traded Funds will soon come soon after a brief delay from the Securities and Exchange Commission (SEC). Kevin Gao said there are other investment options, such as listed trading funds, hedge funds, private holding funds. They have their own opportunities and risks (you should discuss with the investment experts before considering whether to take risks)n
nnn3. Assess the industry’s preferences for change, trial and alternative payment systems, track industry progress and technology infrastructure needed to expand money applications.n
nWhy is the encrypted currency “already coming” and “very scary”?n
nIt has come because it provides a safer, faster and less costly way of dealing; and because organic growth will stimulate the interest and products of a large number of institutions. Even the existing payment company will actively develop encrypted currency products. It is inevitable, because it is anonymous, secret.n
nWhat makes us feel “terrible”? Every time a set of processes, of course, the payment system may be another better, quick, low-cost alternative, will naturally have an impact. Amazon continues to fight against physical retail, superior and Lyft alternative rental, Airbnb alternative hotels, are substitutes with subversive examples, especially if the alternatives are better, faster and cheaper.n
nWhy are money laundering, theft data, or people who hide various financial activities do not use encrypted money?n
nThe future of the encrypted currency is still open. It will continue as a tool for investment and currency development. Everyone should accept its inevitability, but beware of its application. Some encrypted and one-time phones do not let people do anything. It is terrible because it supports the bifurcation of Internet transaction processing. Some transaction processing will take place in the open world, and more will happen in other places. Where “other places” means that we can not expect.n
nThe effect of this bifurcation is very far-reaching. Will Amazon provide anonymity based on encrypted currency that allows buyers to trade on another site? Will Amazon and other retailers’ competitors distinguish between anonymity and anonymity? Does the encrypted currency require a large trade premium? Investment encryption currency ETF whether the encrypted currency to make investors anonymous? This is hundreds of questions. Time will tell us how the results, but the encrypted currency will continue to exist.n

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