The emergence of
the concept of Bitcoin in the world of online gaming and online investment will
eventually become an acceptable online currency in the future. Though, the currency is still in a murky
status at this time in terms of acceptability in the mainstream financial
banking. But if we look at the bright
side of e-marketing and e-business, Bitcoin concept of e-payment can be helpful
in the future of virtual and online
business.
If we can observe the
chronological history of the mode of payment or buying and selling, we can
ponder the concept of “barter trading” were by buying and selling does not
involve any monetary instruments but rather exchanging the real physical goods with
other basic commodities. With this concept we can conceive that commerce and
trading has its own evolution. The fact
that most of the business transactions are in the internet and cloud computing
using Bitcoin in the future is a lucrative business idea and innovation.
On the contrary, looking at the case in a
conservative side, we can conceive that hacking incidents are common negative
scenarios granting that the technology is still new to the market. But if the world trading protocols will
finally accept the Bit coin currency then virtual payments will eventually be a
reality. Maybe in the future the
physical “money” that we are enjoying these days will all be put in the history
of mankind.
One may say, virtual
currency exchange is not possible because virtual investments do not yet exist. But if we try to realize the knowledge being
contributed by the internet, one website account may be a reach knowledge
resource in the future. Take for example
the online research websites; the content of such website will be valuable in
the future as a resource for another research.
Not only that, a lot of business transactions across the internet will
rise in the near future and Bitcoin will not only give convenience to the online
traders but also assurance and safety.
HACKING GLITCHES:
One of the negative
issues being circulated in all online articles is the vulnerability of Bitcoin
to Hacking and Piracy. Thus, Bitcoin
concept of online business payment transaction is not yet accepted in the main
stream business trading because its online security is not yet that
secured. But I believe, that in the
future if the world traders will find the significance of using Bitcoin in
transacting business then the governments around the world will eventually find a way to secure this
innovative idea of online payment and trading.
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