Video: Accelerating Bitcoin adoption points to a bright future

By Eli Afram
Bitcoin is poised for greater adoption as it hits another all time high. Bitcoin is a big deal. It is the first truly trustless, peer-to-peer payment s...

Bitcoin is poised for greater adoption as it hits another all time high.

Bitcoin is a big deal. It is the first truly trustless, peer-to-peer payment system that, for the first time ever, cuts out the middleman.

'Trustless' means all Bitcoin transactions can be done from user to user, without relying on any third party. This exciting crypto-currency is currently used by many major retailers (as demonstrated in the video below), including Starbucks, Expedia and even Victoria's Secret!

And it provides a simple way to make semi-private transactions without the hassle of having your ID linked to your payment. These transactions will clear much quicker than any bank cheque.

The public blockchain holds records of all transactions, so any user is able to prove their payment if the need ever arises. Because Bitcoin removes banks from the picture with electronic transactions, it effectively means that the user is empowered to be the bank. Sole responsibility of your funds fall on you, and nobody else.

It is indeed a paradigm shift, but one that is very exciting and quickly gaining more and more trust from populations around the world as they place their trust in Bitcoin over their bank account.

It is no wonder that Bitcoin was the best performing currency of 2015, 2016, and is yet again hitting all-time highs in 2017.

Eli Afran is the proprietor of CoinGeek.com

Share

Featured Articles

Cloud & 5G - Day 2 highlights from the in-person stage

TECH LIVE LONDON returned to the Tobacco Dock last week. Stage host and Technology Magazine Editor in Chief, Alex Tuck, breaks down the presentations

Cloud & 5G - Day 1 highlights from the in-person stage

TECH LIVE LONDON returned to the Tobacco Dock last week. The stage host and Technology Magazine Editor in Chief, Alex Tuck, discusses the key themes

TECH LIVE LONDON: Day 2 highlights of the hybrid tech show

We take a look at some of the highlights of our final day at the Tech Live London show, including insights from Claroty, SalesForce and Oracle

TECH LIVE LONDON: An overview of the hybrid technology show

Digital Transformation

TECH LIVE LONDON: Begins tomorrow at 10am!

Digital Transformation

Executive Q&A: Marc Lueck, CISO EMEA, Zscaler

Cloud & Cybersecurity