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But now it’s shifting towards bitcoins and digitalcurrencies. Digitalcurrencies are the future of ecommerce. Local currencies couldn’t be converted to bitcoin easily and, as a result, no retailer would even think of accepting bitcoins as payment. Bitcoin is digitized global currency. Not convinced?
After significant hype with the rise of cryptocurrencies, there was a ‘Blockchain winter.’ B2B payments have seen consistent growth for several years (40% in the US from 2014-2020). A Stablecoin is a digitalcurrency pegged to a ‘stable’ reserve asset, like the U.S. Stablecoins.
Whether you love it or are indifferent, cryptocurrency is here to stay — for better or for worse. There has been a lot of hype, especially in recent years, about the impact digitally native currencies and digitally native payment processes could have on eCommerce. What Cryptocurrency and Digital Wallets Can Offer Brands.
Cryptocurrency, and the underlying blockchain in particular, holds a certain amount of promise for eCommerce. A flash crash at the end of August saw around $10 billion wiped off the currency’s market value, adds The Independent’s Anthony Cuthbertson. This was the result of a 30-minute period in which the price dropped by $600.
Some of the important changes and laws include: Gambling and Interactive Services Act 2014. Cryptocurrencies and blockchain technologies offer transparency and security of financial transactions. Since the 2005 Act, the UK has continued to update its legislation to adapt to the new realities in the gambling industry.
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