If you think that credit card or debit card that are electronic money you are mistaken, to buy something with this card either the money leaves your account in the debit function or you owe the bank for having lent you money for you to buy this thing in the credit function, without saying that for you to buy something, the company that manages your card needs to approve the transaction to confirm the purchase, this process is very complicated and time-consuming because you need trust. The real electronic money that is a revolution in our financial world are called cryptocurrencies like Bitcoin that shortens this whole process that conventional cards need to do to spread your payments, not to mention the seller who spends days waiting for his money to fall into the account. This entire reliance on bitcoin as digital money is based on blockchain technology which is a decentralized and encrypted data storage protocol.
- If you want to know more about blockchain click on the button below to see some of the articles we’ve done on this subject.
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