Sentences with phrase «traditional payment systems»

Traditional payment systems rely on the privacy of transaction information to maintain security.

In each case, bitcoin's real transaction growth is happening where it solves the problems which traditional payment systems impose on customers and merchants.

«Bitcoin will take off in areas that are underserved by traditional payment systems right now, areas where people's next alternative is dramatically worse,» he said, citing microtransactions, cross-border payments and peer - to - peer lending as examples of verticals he believes will be profoundly impacted by bitcoin.

This idea is in itself contentious as there remains disagreement as to whether a significant part of the network's value proposition derives from the idea users interact with the blockchain directly, not a third party as in traditional payment systems.

From the original Wikileaks campaign, which arguably put bitcoin on the map, to the current Free Ross movement, there is no shortage of organization's taking advantage of bitcoin's frictionless ability to cross borders and replace traditional payment systems.

We think that everyone in financial services — from banks and traditional payment systems to insurance carriers and exchanges, central counterparty clearinghouses, and settlement systems — should know and care about Bitcoin.

Unlike the traditional payments systems where Visa / Mastercard, Banks or Paypal run the network, control the transactions and hold your money...

This is a great advantage over the traditional payment system for companies working in the international trade sector.

The main advantages for traditional payment systems (such as debit card infrastructure) to connect with blockchain technology are transparency and security.