Are Identifiable Digital Currencies the Future of Digital Currency
There is a new breed of digital currencies making its way into the global digital economy. They are completely different from bitcoin and other altcoins that are based on it. These new digital currencies are known as identifiable digital currencies. Unlike bitcoin, identifiable digital currencies require the users to provide their identity and verify the same before executing any transaction. Nobody cared about bitcoin in the early days. Bitcoin, when it was first introduced was categorized along with other digital game currencies back then. The main reason for bitcoin to gain popularity,....
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A new study suggests that 'millennials' and more affluent consumers see the most promise in digital currencies like bitcoin. The research further suggests that these groups could be the driving force behind mainstream adoption of the digital currency in the future. Data from technology research firm Accenture collected insights into the digital payment preferences of more than 4,000 US citizens, and found that while only 8% of participants currently use digital currency, 18% foresee using the technology by the year 2020. Individuals in the millennial generation - corresponding roughly to....
DNotes has launched its new mobile application that offers educational resources and instructions related to digital currency. Bitcoin, when first introduced, it was termed as the currency of the future. Six years down the line, the digital currency is gradually being adopted worldwide which makes us believe that the future is almost upon us. However, there are few things that are hindering extensive adoption of bitcoin throughout. Lack of education about bitcoin and other digital currencies tops that list of challenges. Not everyone knows about digital currencies. While some people have....
Investor Jim Rogers, of Rogers Holdings fame, has said he missed the boat on investing in bitcoin. In a recent interview with China Money Network, the veteran investor said he still does not know much about digital currencies, but he admitted that he should have got on board a long time ago: "If I were smart, I would have bought it in the early days when people first told me about it. I still don't know enough about it to invest in it." Future of money? Rogers said there have always been great investments around the world, so he was not focused on digital currencies in the past.....
The Payments Council, the organisation that sets strategy for payment mechanisms in the UK, has issued a statement saying that it is "neutral" on bitcoin, though it sees "opportunities" for digital currencies. In response to questions from CoinDesk, the Payments Council said that it had been tracking the progress of digital currencies "with interest", and that bitcoin was one of many "competitive offerings" that are emerging in the UK. The organisation appeared to be relatively positive on the future of digital currencies: "As shopping habits are increasingly moving across borders and....
Money has shaped our modern economy. We have gone from using grain and cattle and even salt as currency to using metal tokens (coins) and paper. However, paper has the habit of sticking and it has been around ever since the Chinese introduced it during the Tang dynasty. We have grown comfortable using paper currency and no one can deny that it has had its usefulness. Now we are approaching another era in which bits are playing the same role that paper did. Digital currencies are no longer something that will happen way into the future, they are here. How will the advent of digital....