cryptocurrency — Translation in Romanian - TechDico

Bitcoin settlement


    In many ways this is already happening, as venture capitalists pour funds into startups with the aim of dispelling the mytique around the use of bitcoin and spread its uptake into the mainstream.

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    Palychata then takes the analysis one step further, imagining a time when large corporations might decide to use the Bitcoin network rather than existing settlement systems.

    Nonetheless, the unit of account is comparable to central bank money in its nature.

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    The potential reduction of the platform costs and the increased speed of the bitcoin settlement process could further enhance the competitive advantage of funds using this technology, says Palychata.

    Investors, meanwhile, could safely set up their own peer-to-peer networks without any intermediary.

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    The scripting capabilities of Bitcoin allow complex transactions to be set up between two commercial partners, notes Palychata. Only the seller can unlock it — but this unlocking option is available to him only after the buyer acknowledges receipt of the goods. If the goods are not delivered in the defined timeframe, the buyer gets the deposit back.

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