Читать книгу Cryptocurrency All-in-One For Dummies онлайн

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The interoperability between currencies, which companies like Ripple facilitate, will also allow for more trade because they offer flexible ways of calculating foreign exchange rates than through the transfer mechanisms. The introduction of more popular digital currencies into foreign currency exchanges will add to the adaptability and integration of underserved markets.

BitPesa is a company that converts M-pesa phone minutes from Kenya into Bitcoin. With this technology, it offers businesses a faster and cheaper way to send or receive payments between Africa and China. The trade between Africa and China is a market of over $170 billion. It takes days to settle payments across borders, and the fees are high. When you use BitPesa’s digital platform, payments are instantaneous and cheap.

Guaranteed payments that are permitted through blockchain-backed transactions will increase trade in places where trust is low. Poorer countries can compete on the same playing field as wealthier nations within these types of systems. As this happens over the next ten years, the global economies will shift. The cost of commodities and labor may increase.