INTERNATIONAL BUSINESS Essay Example | Topics and Well Written Essays - 750 words - 1

INTERNATIONAL BUSINESS - Essay employmentThough the technology is only a few years old, the amount of response it has received, in that concise period is so overwhelming. The essay will provide more information on morselcoin and its importance to the society. apart from acceptance by many brick and mortar businesses such as restaurants and a number of online operate homogeneous Amazon, it also uses Bit Coin technology. The most common way in which a person obtains Bit coins is usually through exchange or competitive mining (Shieber, 8). Mining is usually the process where individuals services to the network are rewarded. One thing that makes this technology unique is the fact that its mode of payment is easy. unconnected other purchases that require debit or credit card, for a Bitcoin purchase, one only needs a computer or phone (Shieber, 8). Through e-wallet application, one is able to make his payments because the only requirement is the liquidators address. Bitcoin has a n umber of advantages. Unlike other financial institutions such as banks that operate from 8am to 4pm, Bitcoin has no such rules. Bitcoin is active at all times through the year, unless the system encounters an error or thither it is undergoing an upgrade. Unlike other services such as PayPal that charge transaction fees, Bitcoin minutes are normally free of charge, only a small transaction fee is in situations where users wish to restrain the proceeding done faster (Shieber, 9). Bitcoin also ensures that all transactions are secure and transparent. This is because the system is protected by cryptographically in that respectfore, there is little chance of tapping or altering information in the system.Whereas Bitcoin has many benefits, there are some limitations associated with it. Bit coin is far from being accepted because either people have not yet heard of it or they are still in doubt about this recent invention. Another disadvantage is that Bit coins can get lost in the netwo rk. With the massive number of Bitcoin transactions in a