- Ayd Asraf
Corporate Senior IT Executive - Release Team, Aramex International
Are "Bitcoins" the future of money?
It is clear that there is still a debate raging about the future of cash. Cash is one of the other traditional bastions of the old guard of financial servicing.
Yet with mobile wallets, ebanking, contactless everything and real-time transactions, does cash really have a future?
Some say ‘yes’, due to the unique attributes of cash, other says 'no' due to the recent disruptive invention that is called "Bitcoins".
For those whom are new to the term mentioned above, Bitcoin is a digital currency designed to be controlled through encryption rather than a centralized authority. Operating in exactly the same way as cash, Bitcoins are fully exchangeable as an anonymous form of currency in real-time across the internet and, shortly, at Point-of-Sale.
Seems tempting right? but cannot things go bad with all of this anonymity? knowing that Bitcoins has no refund feature and it's solely left to the consciousness of the second party to refund you your money, wouldn't that be a concern?
Let me know what you think about the future of money, Bitcoins or Cash? what do you think is good & bad about Bitcoins, as well as cash?