Bitcoin is the revolution the citizens of the world have been waiting for. The perfect digital currency that will allow them to break free from the shackles of the financial system they have become part of. Bitcoin is as much a boon to the virtual world as it is to the real world. Micropayments are just one small part of the problem addressed by the digital currency and this solution has the potential to change the way the internet has been working so far.
The costs associated with the conventional financial system is high. These costs can be justified while making large transactions, but when it comes to smaller transaction sizes, the cost of transactions may render the micro-transaction meaningless. For example, if a payment processor charging 2.9% per transaction plus a fixed fee of $0.30 per transaction is used to make a microtransaction of one dollar, the recipient will be receiving $0.78 instead of $1, which is only 78% percent of the total funds transferred. Whereas with bitcoin, no matter how big or small the transaction is, a small fraction is charged as miner fee and the recipient receives the complete amount in bitcoin.
Taking micropayments to the next level, while keeping the best interests of internet users in mind is the business model of Brave . This brave new browser is set to revolutionize the internet browsing experience while protecting the users’ private and personal information. At the same time, the browser also offers users more control over the advertisements they see. Brave allows people to choose the kind of ads they want to see and also block the ads completely if they feel like it. By using bitcoin, the company also ensures that the advertisers and the companies do not lose out on their revenue either.
Brave recently announced […]
