When Bitcoin
was introduced just a few years ago, many people have
been quick to judge its future, both from a positive and negative end. For
those who did not buy the idea of introducing such type of digital currency,
they did not support claims of how it is going to redefine the future of
trading. On the other hand, for those who immediately believed how it can
change the economic landscape, they have supported the currency since then. In
the future, there is nothing definite about what will happen with Bitcoin. However, with the current
situation, it is most likely that the things mentioned below will happen.
Impacts of Technological Innovation
In today’s time, there are already different
ways demonstrating how Bitcoin trading
is being revolutionised, such as the use of ATMs for carrying out transactions
with the use of such currency. However, in the following years, it is
anticipated that more technological innovations will be introduced to improve
the security of those who are trading and improving the process itself. For many,
however, the technological innovation does not refer to the different
improvements with regards to its use in the future, but would refer to the
currency itself as it is expected to redefine our society in ways more than
one.
Stricter Government Regulations
In some countries, Bitcoin is already recognised as an acceptable form of currency.
This is why it is subjected to the different regulations of their respective
governments, such as with regards to the way they are taxed. In the future, it
is expected that along with the widespread acceptance of Bitcoin, government will also be stricter in the regulation of the
currency, especially with the fact that it has been used in the past for
gambling and illegal activities online, such as when buying or selling drugs.
This can be attributed to the anonymity of the transactions, which the
respective authorities will most likely scrutinise as more people are hooked
with its use.
More Extensive Applications
Today, most of the Bitcoin transactions are conducted from business to consumer and
often involve a minimal amount. In the future, however, it is believed that
there will be shifts in its applications, such as with regards to how it is
used in the business to business market. This will allow large corporations to
save a lot in terms of exchange rate risks and transfer fees. More so, it is
also expected that some businesses will consider paying their employees with Bitcoin in the future, which will most
likely depend on the agreement between the employer and the employee. While
there are only few e-commerce sites supporting the use of Bitcoin today, more and more online shops are expected to use the
digital currency in customer transactions in the future.
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I live in NYC, It would be awesome if we could pay the subway toll with bitcoin!
ReplyDeleteDo you have a list of countries where Bitcoin is accepted or a list of vendors?that might be nice to have on my payment page. Or a link to your site where that information is available whereby I could forward my customers to?
ReplyDeleteVery true, soon more and more e-commerce sites will support the use of Bitcoins, it's important for people to open those Bitcoin wallets, even if it is on a small scale just to start.
ReplyDeleteE-commerce is still a bit behind, I think more information should be distributed to e-commerce providers who still have fears based on misinformation.
ReplyDeleteI think who kept trust on Bitcoin that time and joined with Bitcoin they are now getting their benefit.I was not aware that time but i think still there is chance. I m going to join before it is too late.
ReplyDeleteThis is amazing.. I wish I could give them more than one thumbs up who used the great opportunity of joining Bitcoin in earlier times.Those who were confused that time i think they are a great looser.
ReplyDeleteNo way without admiring that there are a great future in Bitcoin,it's spreading all over the world so rapidly and people are taking this change so positively.
ReplyDeleteThis is absolutely amazing.I have no doubt about the future of Bitcoin,I believe Bitcoin has been created for change the market system and people's fate.
ReplyDelete"some businesses will consider paying their employees with Bitcoin in the future" i like this point and i think it's already started in different country
ReplyDelete