Because of Bitcoin and blockchain technology, the global economy flourishes without the normal limitations of nationalities and borders.
BitcoinCT r: 8 was conceived without consideration of, or restriction from, governments, nationalities, or borders. Because of its decentralized nature and ease of transaction, it is equally accessible to users in all corners of the world, so long as they have a device with a reliable internet connection.
This has led to a global financial system less influenced by national borders. Easier cross-border transactions
Because most economic transactions in the past have dealt in traditional currencies, which are issued and controlled by governments, commerce usually pays strict attention to national borders. However, according to Pétur Árnason, Chairman of the Auraráð foundation, this is beginning to change thanks to blockchain technology.
Árnason says to CoinTelegraphCT r: 33 : “The blockchain technology has brought to the stage new mechanics for commerce that will undoubtedly change the dynamics in the relationship between buyer and merchant. This revolutionary technology will reduce if not completely remove some of the boundaries that currently exist within a purchase process that occurs between national borders.” Marco Montes Neri, founder of mobile payments platform Saldo.mx, has seen Bitcoin and blockchain technology surpass borders to a great degree, calling it a “regulatory agnostic.”
Neri explains to CoinTelegraph: “Within the store of value aspect of Bitcoin it is the first universal “nostro account” (for those who are familiar with correspondent banking) which creates an opportunity to connect payment networks. In reality is hard to integrate with those networks due to the state of the legacy systems, but it is matter of time (as payment networks evolve) that cross border settlement will occur there, either for securities or other forms of value. It just works.” A tale of a truly global economy
Martin Jansen, a member of […]
