Currencies that use blockchain (so-called crypto currencies) have for the first time implemented modern blockchain technology. Among the crypto-currencies, Blank December 2018 Calendar Bitcoin is the most popular and accepted worldwide. Today, crypto currencies are often used as an alternative to traditional currencies.
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Customers can pay with Bitcoin as well as PayPal, Stripe or other payment services. Bitcoin and other crypto currencies (such as ethers) have some advantages over traditional currencies that benefit both customers and merchants.
In addition to its relatively simple implementation, sending or receiving money is as easy as sharing a QR code.2. Faster Transactions.
According to Monetha, a mobile payment platform based on the Ethereum Blockchain, traditional payment processing systems include up to 16 different steps with total fees of between two and six percent.
There are a number of parties involved in the process, from payment processors to credit card providers. It is clear that simplified transactions benefit both merchants and customers.
Blockchain transactions occur within a single network. As a result, you need fewer intermediaries or you can even do without them altogether. Transaction speeds are limited only by the speed of the network and the speed with which new blocks are generated.
While Bitcoin used to struggle with seven transactions per second, platforms like the Lightning network promise millions of transactions at the same time.3. Safer Payments: Another Benefit for Customers: Blockchain-based currencies do not disclose personally identifiable information.
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Credit and debit cards were used in 2015 for over $ 100 billion in transactions worth $ 5.72 trillion. However, just a year earlier, 31.8 million US consumers were also victims of credit card fraud.
Bitcoin work like cash at this point. The customer does not have to provide sensitive data such as his credit card number. Instead, the customer authorizes a transfer from his personal “wallet” to a recipient’s.
The data differs only by a randomly generated unique identifier, which is bound to the wallet of the user in question. Blockchains work so well for payment processing because they balance speed, privacy, and integrity. For customers and merchants, secure transactions are now much faster and the risk of fraud is much lower.4. Better order fulfillment: One of the key benefits for ecommerce platforms is that every block in the blockchain is linked to the previous block.
This creates a visible chain of events that accurately reflects the order fulfillment process. You can also extend the process to other stakeholders, such as: B. the shipping service. In this example, the shipping service provider would create a fourth block after delivery. Blockchain technology creates trust between all parties involved. Due to the decentralized, tamper-proof nature of Blockchain, there are fewer disputes over payment or order details and complaints.
Only one to three percent of e-commerce transactions conducted worldwide cause disputes. Thief The different distributed-ledger technologies could soon provide solutions to the digital identity crisis. IOTA publishes project details QubicKryptoassetsIOTA publishes project details Qubic05.06.18 – After weeks of speculation, IOTA finally shed some light yesterday: Blank December 2018 Calendar The Foundation has new details about the project Qubic released.