FInancial services are not an exception too. Even
though this industry has always been known as one of the most
conservative, bitcoin and other factors are making the shift happen.
Let’s take a look at how BTC has impacted the whole development of the financial systems and why these influence is truly a revolutionary one.
New money can exist
It has been a while since a new currency has appeared
on the market. Usually new currencies were issued by recently developed
countries. In other cases, a newer currency was just substituting a
previous one. Yet it was nearly impossible to see new money appearing
without a backup of any government. The bitcoin proved an idea that the
world can accommodate a few more currencies.
Blockchain technologies
In IT and financial sectors the bitcoin as a currency
wasn’t crucial. However, the technology of bitcoin, currently known as
blockchain, is something that has completely changed the attitudes.
Currently leading banks and other financial institutions are integrating
blockchain technology to their core systems. Even if bitcoin
depreciates and becomes nearly worthless, it will still represent a
magnificent driver of the technological progress.
Enhanced anonymity
In times of NSA, it is often possible for people to
pay more and more attention to their privacy, especially online. This is
where bitcoin comes very handy. You can generally use bitcoin to pay
for nearly anything you can imagine. Fast food, web-design or even
bitcoin gambling, its usage does not know any limits. However it does
keep your identity private. For example, if you top up your online
casino account using your credit card, be sure that your bank knows
about your gambling interests and will, most probably, make lending
conditions not so favorable for you.
Conversely, when you are engaging in bitcoin gambling, you can be sure that it is impossible to connect your wallet with your identity, unless you have chosen to do so.
Summary
There are many aspects which bitcoin has
revolutionized in our lives. It became a trading asset with billions of
transactional volume daily, a typical currency that was used to settle
online and then, offline, transactions. The usage of BTC ranges from
paying for donuts at a local bakery to buying chips to experience a
secure bitcoin gambling. Whether you own some bitcoin or not, rest
assured that this currency is here to stay.
source: 20smoney.com
