Bitcoin Company Bitrated Tries to Restore Trust in Bitcoin
Bitrated, a startup bitcoin company based in Israel, is working to bring trust back to bitcoin after the cryptocurrency has been mired by negativity in recent years. As a cryptocurrency, the lack of regulation for bitcoin has been seen as both an advantage and disadvantage. For one, the anonymity of transactions has been seen as a more secure approach for payments by some while others see it as a change to participate in illegal dealings. The use of the blockchain as a ledger for transactions, which is the unique selling point of bitcoin, has also been frequently questioned. Bitcoin....
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Bitcoin is a great way to move money around the world, and it is also a movement that wants to decentralize all services. However, the digital currency has not been embraced fully just yet, due to identity and reputation management, which could not be decentralized up until now. Trust remains an important factor, and people don’t trust decentralized platforms just yet. One of Bitcoin’s positive aspects is that there will be no disputes when things need to be resolved. But, how can you be sure you are not getting scammed with Bitcoin? A proper solution needs to be found, and the Bitrated....
Bitrated has announced an online reputation management system for its multi-signature (multisig) escrow service for bitcoin payments. The two innovations combined provide unprecedented consumer protection to Bitcoin users, buyers and sellers alike. Bitrated's bitcoin payment service uses multisig transactions where a trusted third party (trust agent) is nominated to resolve disputes and reverse payments in case of fraud. Two out of three signatures are required to unlock a payment: the seller's, the buyer's and the trust agent's. So if the buyer is happy with the purchased goods or....
As a decentralised currency, bitcoin has been both criticised and celebrated for its lack of regulatory supervision. Unlike credit cards - or other traditional payment methods - bitcoin's transactions are final by design, with almost no recourse for consumers in cases of fraud. This, in addition to the semi-anonymity afforded by the digital currency, has led some to question how participants in a bitcoin transaction can be trusted. One bitcoin startup, Bitrated, thinks it may have the answer. The Israeli-based company, founded in 2013 by software developer and bitcoin enthusiast Nadav....
The Western Asian country of Israel is one of the emerging countries when it comes to bitcoin adoption. With an eight million odd population, the country has a prolific startup ecosystem that is quite similar to that in the United States, United Kingdom and India. Few well-known Bitcoin based startups have emerged out of this ecosystem. Some of the Bitcoin startups from this nation include Polycoin, Bitrated and Coin Commerce. Polycoin. Based out of Tel Aviv, Polycoin is a bitcoin payment processor that enables businesses to collect payments in bitcoin. Unlike other services, Polycoin....
One of the commonly cited problems that many people see with Bitcoin as a payment method is the fact that all transactions are final and irreversible. With credit cards, if you buy something but never receive the product, you can issue a chargeback to recover your funds potentially weeks after the transaction. With Bitcoin, on the other hand, no such option exists. Of course, in many cases the lack of chargebacks in Bitcoin is actualy an advantage; in transactions where the two parties have an established relationship, or one party is a reputable business, the possibility for any kind of....