Could we do the same with electronic currency in this digital age?
The electronic currency, Bitcoin, was created in 2009 by a person who went by the alias Satoshi Nakamoto. Unlike the Euro and the dollar, the Bitcoin is not supported by the banking industry. While that gives users a sense of anonymity and avoids costly transaction fees, there is no FDIC insurance.
There are several ways to acquire Bitcoins. They are easily transferred by using a mobile app, and they are for purchase on exchanges that accept multiple currencies. You can also "mine" Bitcoins by solving complex math puzzles. Nakamoto set the amount of Bitcoins at the finite number of 21 million. There are only 11 million Bitcoins in circulation, which means there are many more to be acquired.
The Bitcoin definitely has its perks. More mainstream merchants - like Target and Amazon - are accepting the Bitcoin. Using Bitcoin can be pleasing to the merchant and consumer, as there are no transaction fees like the ones associated with accepting credit cards. And it has become easier for international travelers, as they are not tied to a particular country.
On the other hand, there are currently no regulations on Bitcoin's handling, which is causing investors to be nervous on the topic. Will Bitcoin take off like the Euro or will it be a thing of the past before it becomes the future?
While nobody knows the outlook of the Bitcoin, Transcription Plus, LLC continues to know how to protect the data of our clients. Click here to learn about our state-of-the-art security.
Mary A. Goehring
Transcription Plus, LLC
P.S. Did you hear about our appointment reminders service? Click here to learn more.
Or about our Telephone Call/Interviewing Recording Service? Click here or call today to learn more.
Don't miss the Smartphone APP for the absolutely easiest dictation workflow ever! Click here or call today to learn more.
Visit our web site: www.transcriptionplus.net