Take a moment to bask in the realization that our universe is reshaping its self-perception, about how we transact business. The word billion became an American idiom in 1844. D. Rockefeller was tagged the first billionaire shortly thereafter. This expression to determine a level of wealth will soon become obsolete. Wealth holders termed billionaire will translate into “trillionaire” in the near future. The fastest technological advantage that wealth holders will benefit from is crypto currencies like Bitcoin.
We receive payments for our business efforts with money that carries the full faith and credit of our government. We use various online exchanges to act as placeholders for our currencies. No longer waiting for the check in the mail, we have PayPal, Alipay or various banking services to act as payment agents. Step away from current means of business transaction and step into crypto-currency world. One of the current flavors of the day is Bitcoin.
Crypto currencies as Bitcoin is a “permissionless” frictionless payment platform that only needs to meet its necessary tech protocols to deliver instant gratification.
You may ask how something like Bitcoin can be useful to your small business. As a contractor, wealth manger, crowd funder, or small business you can’t afford the necessary time allotted to complete the necessary delays in receive your funds. Take into consideration there is riches in niches where governments are still maturing. Payouts using crypto currencies by pass any delays to payouts.
With crypto currencies similar to Bitcoin, payment is immediate. Because of the extremely nascent modality in digital payments, Bitcoin and like digital currencies will take global commerce to a new world. They will move through and bypass the difficulties in using sovereign coin like a warm knife through “budda”.
· There will be no lost moments absorbed in the regulatory rules relegated to cross sovereign exchanges.
· There would be no time or monetary limits of transfer.
· No cross border politics to hamper transfer from your clients accounts to yours.
Instant gratification and you appear to own a business that is nimble and able to successfully navigate the world.
Scalability defines the success of Bitcoin or any other virtual currency.
The eventual advent of scalability and regulations is needful to success; this way come “blight on the progression of entrepreneurism”. With scalability to the level of everyday payment actors like EBay and Amazon.com, come regulations, fees, and subscription to virtual banking that will lessen the reaping rewards. Those billionaires taking advantage of the current steamrollers like Bitcoin will become the new trillionaires.
Any business, small or large, will be able to put that technology onto place within its operations. You will be an exportable SME in your field or service and ahead of the game.
PayPal is sticking its toe into the crypto currency world; by offering gamers the ability to use Bitcoin as payment. This type of electronic transaction lessens PayPal’s fraud exposure to its 152 million global accounts. Our newest e-megastore Alibaba is unable to participate in the emergence of the earth shattering technology. They are operating in the “We don’t own it– so you can’t use it” world of Chinese governmental regulatory systems. China’s government chooses who may own economic drivers. Nevertheless, they have Alipay which is the world’s largest digital payment processor at over a half trillion, eclipsing PayPal.
The lure of virtual currencies like Bitcoin is the ability to exist outside of sovereign control. This enables capitalist economies to shape it and take profit while it is still a nascent technology.
Bitcoin is free trade.