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Bank of England: Bitcoin is "Harder Money" than Gold Due to Deflation – Bitcoin Magazine
During a presentation on digital currencies entitled “Old Money, New Money,” Andy Haldane, Chief Economist & the Executive Director of Monetary Analysis and Statistics of the Bank of England and his team stated that “Digital currencies are ‘harder money’ than a gold standard” because “sustained adoption [of bitcoin] would see ongoing deflation.” [...] 2 million UK adults do not have bank accounts and 2.5 billion people in the world have no access to financial services, said Haldane. However, given the estimate that 80% of the world’s population will own a smartphone within 5 years, Haldane believes that many could turn toward digital currency to store their savings. // &! bit.ly/1U0UYMM - Enabling New Internet Applications (no transaction minimum, no transaction fee) // &! W3C toEstablish Online Payment Standards - bit.ly/1Nye7py - Internet pioneers such as Ted Nelson, Marc Andreessen & Berners-Lee himself thought that the Internet should have a built-in framework for micropayments.
Bitcoin  deflationary  deflation  fiat  currency  fiat  money  monetary  policy  Gold  Standard  economic  history  FinTech  underbanked  emerging  market  Developing  World  W3C  micropayment  micropayments  payment  payment-system  payments  PayPal  Braintree  Stripe  Amazon  Google  Google  Wallet  creditcard  oligopoly  oligopol  banking  crisis  banking  fractional  reserve  banking  financial  market  barriers  to  entry  cost  of  entry 
august 2015 by asterisk2a
Why I Hate Micropayments - Rita McGrath - Harvard Business Review
It all comes down to how the payment link of customers' consumption chains fits into their total experience. iTunes, Amazon, and the cable companies have figured out how to make the payment experience either seamless (Amazon and its one-click process), transparent (Apple's iTunes — you know exactly what you're getting for your 99 cents) or inescapable if you want to get other things done (cue the phone and cable companies). No micro-payment system I've investigated has achieved either seamlessness, transparency, or inevitability. No standard perceived value has emerged for a piece of web content. And don't even get me started on the need to enter credit card info, passwords, secret codes, and captcha entries before you get anywhere. Micropayments in their current form are an irritating interruption, not something a consumer participates in either gladly or grudgingly.
micropayment  micropayments  tuki  payment  payment-system  payments  paywall  paypal  product 
march 2010 by asterisk2a

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