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Virtual Credit Card Bitcoin and its benefits

What is a Virtual Credit Card Bitcoin? How to create yours? And what are its major benefits?

Read the following article to receive all the answers you need to use and open your new Virtual Credit Card Bitcoin.

Virtual Credit Card Bitcoin: definition

First of all, a Virtual Credit Card Bitcoin is a unique credit card number generated to settle a specific transaction.

Of course, it can be filled with Bitcoin, so you can convert your cryptocurrency into euro to buy everything you need online.

So, it is not physical, but just a credit card number generated electronically via web.

5 top Benefits

Virtual Credit Cards Bitcoin are available for years, but many continue to ask: why should I use them?

Here a list of Virtual Credit Card Bitcoin benefits:

  1. Security: Typically a virtual credit card number is issued for the exact amount of the transaction (the same system of a check), reducing the possibility of fraud. The specific credit card number generated becomes invalid after the transaction is complete.
  2. Control: You can easily check all spending parametres. Your Virtual Credit Card can only contain 250 EUR.
  3. Low Fees: when you create a virtual credit card the 2% from the total value will be designated to provider fees.
  4. Versatility: you can use your Virtual Credit Card on every single e-commerce, website and platform where VISA is accepted. Its is also a simple way to convert and spend your Bitcoins.
  5. Easier Creation: To create your own Virtual Credit Card Bitcoin you just need to have 18+ years and an account on EntroPay.

HolyTransaction Trade

On the web you might find several services that allow you to create your own Credit Card, but only a few of them are really effective and safe.

To receive instantly your new credit card number in minutes, to have a good support and low fees, we suggest you to test our new platform HolyTransaction Trade

HolyTransaction Trade allows you to create your Virtual Credit Card Bitcoin in a very short time with only 2% of fees.

Click here to read a simple step-by-step guide to create your not physical credit card.

 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Bitcoin virtual credit card: how to create it

Holytransaction Trade is a new service to create a bitcoin virtual credit card offered by the HolyTransaction wallet.

Holytransaction.trade to create a bitcoin virtual credit card

You would think that Holytransaction.trade is a service that can be found anywhere on the web to sell and buy bitcoins.

This is not true, because HolyTransaction.Trade allows you to do much more, such as creating a bitcoin virtual credit card, convert bitcoin into fiat currencies and pick them up in an HalCash ATM, etc.

If you have some digital currencies you can create a bitcoin virtual credit card to buy everything you want online.

So, HolyTransaction Trade is not only a platform where you can convert bitcoin into dollars or euro, but also vice versa: in Mexico, Greece and Spain you can convert fiat into bitcoins via PayNet, EasyPay and Teleingreso.

Also, among the options you can create a bitcoin virtual credit card.

This service is available and works in less than 10 minutes and it is also available on Google Play.

Please note that when you create a virtual credit card the 2% from the total value will be withheld as fees.

To use this service you must be either registered on Entropay.com or register after completing the process.

So if you need liquidity, you may want to transfer your bitcoin into a virtual credit card.

Follow these steps to understand how to create your bitcoin virtual credit card with HolyTransaction.Trade.

  1. In the first column on the right you need to select “Bitcoin” as an input and “Virtual Bank Card” on the left as the “output”. Then click on “Continue”.
     Bitcoin to Virtual Credit Card
  2. Select the amount and your email address to receive the virtual card’s information. 3
  3. In the following page, you’ll find an address on the bottom right, below the “Pay To”. 4
  4. Send your the exact amount you selected before to that address, so enter on your favorite wallet and do a transaction with that address as a recipient. You can transfer max 250 euro for each email address. 5
  5. Create or login to your account on EntroPay. You’ll receive all the info you need via email. 
  6. Once the transaction is validated and written on the blockchain, within the next ten minutes the amount you selected will be sent to the beneficiary bitcoin virtual credit card.
  7. Operation Completed!
    successful-operation

This is just one of the services available on the HolyTransaction.Trade platform to convert and send bitcoin worldwide.

 

 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

MasterCard lobbyist adds Bitcoin to list of topics

(Bloomberg) When MasterCard Inc. paid a team of
lobbyists about $70,000 earlier this year to promote the bank-card network’s views, a new topic made their list: bitcoin.

Washington-based Peck Madigan Jones had five of its
lobbyists, including Jeff Peck, who leads the firm’s financial
services and capital markets practice, work on subjects
including “bitcoin and mobile payments” in the House of
Representatives and Senate during the first quarter, according
to a regulatory filing. Other topics the firm handled for
MasterCard included data breaches, interchange fees and gift
cards.

As big financial companies dismiss bitcoin’s prospects, the
document shows MasterCard is at least talking with lawmakers
about the virtual currency, which entrepreneurs pitch as a cheap
alternative to established payment systems. Investors in bitcoin
businesses are working to head off burdensome regulation and
capture some of the combined $61.3 billion in annual revenue
generated by the four largest U.S. credit-card networks.

“We were gathering information in connection with recent
congressional hearings to better understand the policy issues
around virtual and anonymous currencies,” said Jim Issokson, a
spokesman for Purchase, New York-based MasterCard. 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

Shopping with Bitcoin: read the ultimate guide

Today I want to help you to start doing shopping with Bitcoin. Thanks to this method you can buy everything you want online, saving money and time.

Also, you will be able to avoid frauds that are very common on Internet, unfortunately.

First of all, you need a cryptocurrency wallet as a safe place to store your Bitcoin. You can open it now for free here.

Bitcoin Virtual Credit Card

To stard doing shopping with Bitcoin you can easily open a bitcoin virtual credit card on our new platform called HolyTransaction Trade.

Not all the e-commerce platforms you can find online accept Bitcoin, so this is an instant and cheap way to create a virtual credit card with Bitcoin and buy everything you want from your favorite online store.

You can use a virtual credit card everywhere a Visa credit card is accepted among the payment methods.

Read more about this revolutionary method and a step-by-step guide to open yours with the lowest fees on the web.

Also, to read more about all the benefits of a bitcoin virtual credit card, click here. 

Shopping with Bitcoin on Purse and eGifter

As you can see on the HolyTransaction.com menu, you can directly open your Purse card from your HolyTransaction Wallet.

You just need to click on “Spend” and then on “Purse” or “eGifter”.

Purse is a fast way to do shopping with Bitcoin on Amazon, also saving from 5% to 15% on millions of products. To do so you just need to create an online gift card on Purse and start doing shopping.

eGifter is another way to do shopping with Bitcoin, buying from hundreds of gifts cards with your favorite digital currency. You can do it directly from our website, by depositing the bitcoins stored in your wallet on the eGifter website.

 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

HolyTransaction Trade: opinions and news

HolyTransaction Trade is our new service to allow you to buy and sell your Bitcoin with low fees and instant conversion.

HolyTransaction Trade is a virtual exchange for users that want to convert their digital currency into fiat currency and vice versa, through Halcash ATMs, bank transfer, Bitcoin virtual credit card and more options available worldwide.

Click here to read more about HolyTransaction Trade and start converting from/to your favorite cryptocurrency.

We launched this service a few weeks ago and now we want to share with you a few articles written by magazines from all around the world about HolyTransaction Trade.

HolyTransaction Trade on magazine

We received a widespread of our press releases and news in Asia, America and Europe and we cannot be happier for the support we received in the latest days.

As you might know, we had a few issues during 2016, but this is a new year: all problems are disappeared and we are stronger than ever with a new service and more strength to improve our work and your experience with us.

Click on the image below to watch a recent video published on YouTube by the Russian KCN.

holytransaction_trade

Also, please click on the images below to the read the full press release published on the major magazines about Bitcoin and the Blockchain, including Cointelegraph Espana, CryptoCoin News, Bitcoin.com, and more… 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Change Bitcoin Euro: how to sell crypto in Europe

People who decide to invest in crypto often have to change Bitcoin Euro, but the main problem is always the same: where? which platform should I use in order to have low fees and instant conversion?

We at HolyTransaction have found a solution for these issues and we have launched HolyTransaction Trade, an instant exchange that allows you to change Bitcoin Euro in a few steps.

Through our new service you can instantly convert Bitcoin into Euro and vice versa, buying and selling your cryptocurrencies at any time.

We have a few options to do so: Bitcoin to Virtual Credit Card, Bank Transfer, and Halcash ATM ( the latest one option is available in Poland and Spain).

Or Bitcoin to EasyPay, TeleIngreso and PayNet if you live in Greece, Mexico or Spain.

Change Bitcoin Euro: step-by-step guide

By clicking on the links below you can read step-by-step guides to change your Bitcoin into Euro:

How to convert bitcoin into euro in a few steps

Bitcoin virtual credit card: how to create it

Bitcoin euro: withdraw with ATM machines

Also, if you don’t know exactly how a Bitcoin Virtual Credit Card works and which benefits it has, you can read the insightful article below to understand why you might need a virtual credit card to do shopping online.

Virtual Credit Card Bitcoin and its benefits

 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Bitcoin in 2016: top news about the Blockchain

As the New Year’s Eve is coming, we decided to share with you the best moments of this year with an article about Bitcoin in 2016.

Involved in the best news about the distributed ledger technology, there are not only financial institutions and bank, but specially well-known companies related to countless sectors.

And his proves how the blockchain could be useful for a lots of use cases.

Microsoft and Bitcoin

For example, in 2016 Microsoft announced its involvement in blockchain projects related to security, identity management,  and a tool for developers called Microsoft BaaS.

Also, the worldwide company decided to accept Bitcoin among its available methods of payment on its online shop.

IBM and Watson

IBM was another company who dedicated much effort in blockchain research and projects.

Earlier this year, IBM revealed its new blockchain cloud service for helping companies in developing and testing the distributed ledger.

Also, it announced its revolutionary project called Watson, that together with the distributed ledger are “two technologies that will rapidly change the way we live and work, and our clients in Asia Pacific are eager to lead the way in envisioning and creating that future,” explained Randy Walker, CEO at IBM for the Asian area.

Bitcoin in 2016: annual price high

Bitcoin in 2016 also reached its annual high; and as the year comes to the end, its price continues to test the $1,000 mark and it seeks to set a new three-year high.

HolyTransaction in News

You might now that our company had to face some issues earlier this year, but now we are strong than ever and we’re very happy to having developed a new virtual exchange platform called HolyTransaction Trade.

Thanks to this exchange you can buy and sell bitcoin worldwide with no registration required. This means you can instantly convert your digital currency into fiat currencies and vice versa, without sharing your personal data.

On HolyTransaction Trade you can also create a Bitcoin Virtual Credit Card to buy everything you want online.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Easy Bitcoin Exchange: how to use HolyTransaction

Are you looking for an easy Bitcoin exchange?

Holytransaction offers a simple solution for your needs, as you can convert bitcoin and other digital currencies within your multi-currency wallet.

So, if you have a wallet on HolyTransaction or you want to open one, you can exchange your cryptocurrencies in a few minutes and without providing any personal documents.

This way you can avoid the long wait you experience on the common exchange platforms.

So, let’s try to understand how to use our easy bitcoin exchange.

Read this step-by-step guide to convert your digital currencies on HolyTransaction.

  1. Login or sign up on HolyTransaction.com;
  2. Click on “Buy” in the menu you can find on the left as shown below:

3. You will see the page below where you can set the digital currency you want to buy and the cryptocurrency you want to spend. You can see the exchange rates in the tab on the right;

4. Then you can click on the blue “Next” button;

5. You will see the confirmation page. Click on “Buy” to confirm the conversion:

This is a very easy digital currencies exchange, isn’t it?

Please note: it only works between the digital currencies we support (bitcoin, ethereum, zcash, peercoin, dogecoin, litecoin, gamecredits, faircoin, decred, dash, blackcoin, gridcoin and syscoin).

Conversely, if you want to buy bitcoin with fiat currencies, you need to use HolyTransaction.trade to buy bitcoin with virtual credit card, bank transfer or Halcash.

Enjoy our wallet and our easy bitcoin exchange here.

 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Visa is working on a secure and scalable Blockchain

The American multinational financial services corporation Visa annonuced its “secure and scalable” blockchain project.
To do so, Visa opened a position for software engineers who have to “explore and develop technologies that are critical to the payments industry in the future”, as stated in the job advertisement. 
visa, blockchain, job, job position, scalable blockchain

Job Description

The researches will cover three key areas: data analytics, security and future of payments, so the team will work on develop a sort of proof-of-concept for the Visa blockchain network

“Working on Future of Payment research at Visa is a unique opportunity at a time when the payments industry is undergoing a digital transformation with data as a critical differentiator. We offer you the opportunity to be at the center of innovation in the payments industry and unleash the power Visa technologies and massive data in innovating the future of payment concept.”


The perfect candidates must have programming experience, cryptography and “competency in data structures, algorithms and software design optimized for building highly distributed and parallelized systems”. 

Visa partners with Chain

Some months ago, Chain raised $30 million in a new venture funding, drawing funds from some financial companies including Visa.
Chain is a a blockchain developer platform that serves an enterprise market.

The blockchain is no longer a choice

Previously, on December 2015, Visa Europe stated that “the blockchain is no longer a choice”.
In an interesting blog post entitled “Why 2015 was the year of payments”, in fact, they commented on financial technologies including the subject of digital currencies, by saying:

“2015 has turned blockchain into something the industry has to live with. It is no longer a choice anymore. Recent news speculating about the identity of its creator and the formalisation of virtual money as a commodity just makes it more real than ever before.”


To know more about Visa perspective on the blockchain, you can read the full post here.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Bitcoin is “digital gold” and will mark the end of cash. Ametrano from IMI Bank explains.

(Sole24ore) Bitcoin is periodically back in the news, most of the time in a bad way like the recent presented use of the currency, then denied, from islamic terrorist authors of the attacks in Paris. At the same time banks and financial institutions seem extremely interested in the tech behind bitcoin.
We talk about this with Ferdinando Ametrano(*), from IMI Bank, Banca Intesa Sanpaolo group.

Professor Ametrano, what is Bitcoin?



Bitcoin is a private currency, that isn’t issued by any central bank nor guaranteed by any institution. It is electronically transferrable in a practically instant way, utilising a cryptographic security protocol. It is based on a completely decentralized network: the transactions don’t require a middleman, cannot be censored, don’t have any kind of geographical or amount restriction, and are possible 24 hours a day every day and are substantially free.

How can transaction be substantially free? Who covers the costs of the bitcoin network? Who guarantees its safety?



Bitcoin’s network security is handled by nodes, that validate transactions and are also called miners. 
The costs that they sustain while doing this activity are covered by issuing new bitcoins.

We’re more and more hearing about blockchain, how is it related to bitcoin?



The validated bitcoin transactions are “stacked” in blocks. Every new block of transactions is written down on a public and distributed ledger, organised like a ordered chain of blocks. This public ledger is in fact called blockchain, a term generally used to define the underlying technology of bitcoin. The blockchain tech regulates the transfer of a “digital token” to the whom can be associated a variety of goods and rights of the real world. The token, that is fundamental for the existence of this technology, gains value due to its use in the digital world.
The bitcoin currency is in fact the digital token of the first and most distributed blockchain: it’s impossible separating the two. It’s hence possible having technological applications that “hide” the token or in which the token has a value not relevant if compared to the right or to the good that it represents, and avoid calling it bitcoin or utilising a different blockchain from the one bitcoin’s using.






Is it true that bitcoin’s author could be proposed for the nobel prize in economics?


The white paper that describes the bitcoin protocol was published around October 2008, by a person known as Satoshi Nakamoto, an identity which has yet to be confirmed. Nakamoto released the source code for Bitcoin in January 2009, and then he gradually vanished, leaving the development to others. He vanished completely around mid-2010, when he stopped answering to any message. As of today, even due to the poor understanding of Bitcoin and to the lack of diffusion it has, the Nobel prize is just a boutade.

We frequently hear about anonymity in bitcoin transactions. Why?



We should instead talk about pseudonymity: the blockchain is in fact a public ledger and all the transactions take place in a transparent way between the different bitcoin addresses, which are like IBANs from our bank accounts. There is not however any way to force the identification of the person or organization behind the address.






The lack of user identification and the fact that transaction can’t be censored are aspects that make bitcoin interesting for terrorists and criminals, don’t they?


In theory, yes. But in practice the interest is limited. The common sense suggests that the currency used by terrorist in still in most cases the US dollar, because it’s globally accepted.
Back in October the British Treasury has completed a study revolved around the key points in money laundering and terrorism financing: Bitcoin was found to be the one with less risk, before banks, legal services and accountancy, gambling, cash etc. We know that criminals use internet, cellular phones, and transport services: we can’t shame technology because of this.
There are always new challenges and we have to adapt to them: the authorities have shown they know how, for example when they took down Silk Road, the darknet market that used bitcoin as the go-to currency. The most sensitive point in the Bitcoin environment are for sure the exchanges, where people can buy and sell bitcoins: they represent the point where Bitcoin and the regulated financial system make contact, where suspect actions can be intercepted.




Obviously, regulating and prosecuting the illicit uses of bitcoin is necessary, exactly like how it’s done with all the other tools we have to our disposal. How far are we in doing this?


The international regulators are following with great attention the Bitcoin phenomenon. The New York Department of Financial Services has released last June, the so-called BitLicense, a regulatory framework developed in about two years of study and consultations. The head of this department said that the regulator should not, especially at this time of development, suffocate the innovation that this new technology brings. This was repeated in the following months by the chairman of the Australian Securities and Investment Commission and the Canadian Standing Senate Committee on Banking, Trade and Commerce. Bank of England defined this promising technology as a payment system.
The European Central Bank has published two studies. If other countries and states are prudent, Europe decided a more cautious approach: the European Banking Association urged national regulators to discourage banks from buying, selling and holding bitcoins.
And yet Banks, stock exchanges, and the financial institutions in general, even while staying away from bitcoin are really interested in blockchain technology.
Of course, and for an absolutely crucial reason. Financial transactions are reversible for a long time (with credit card chargebacks possibile for up to 6 months) and even when they seem to take an instant they are actually regulated (clearing and settlement) in two or three days after the transaction itself through central counter-parties and clearing houses. The settlement system is burdened by significant costs and levies. In a world where information travels instantly at virtually no cost, these layered and convoluted processes are inefficient, expensive and inadequate. The validation of a transition on blockchain happens at the same time as its clearing and settlement and is not reversible, resembling in a lot of ways cash transactions. When you receive bitcoins you are certain that whoever sends them is in real possession of them and that the transfer is immediately effective and irreversible.

How is Bitcoin’s monetary policy defined?



The validation of a new block of transactions happens every 10 minutes or so, and requires a significant work from miners. Those who exhibit this kind of work (proof-of-work) is paid back as of now with 25 bitcoins every block. This reward halves every four years and it will reach 0 approximately in 2140, when the system will have to cover its costs with transaction fees, that, at the moment, are negligible. This defines entirely bitcoin’s monetary policy.

So, can we expect the rise of new and more efficient financial services and the redefinition of the actual ones on through blockchain technology?



It’s hard to find clear arrival points in this pioneering phase. The ‘fundamentalists’ of the blockchain technology believe that the traditional financial world will be swept away completely; these are opposed to radical conservatives who believe existing financial institutions will instead simply incorporate and adapt the tech to its needs; as always, the truth probably stands in the middle. In any case, despite the general enthusiasm or concern, it is not yet clear if and which applications will be adopted by the traditional financial world.
The blockchain technology aims at uncensored transactions guaranteed by an inherently decentralized ecosystem. Decentralization is, however, naturally inefficient in terms of scalability in the number of transactions (about 3 per second, compared to the 60 thousand possible inside the centralized VISA network) and completely sealed against regulatory processes. These features make it a problem for financial institutions and regulators.
And yet blockchain technology is more and more being represented as able to solve all the problems that currently burden our financial system: costs, inefficiency, lack of transparency, etc.
I often have the impression that behind the blockchain innovation label is behind hidden the attempt to reform the organizational side of these processes even before the technological one. Many of the proposed solutions are simple misinformation, implemented through databases in a more efficient and cheap way than a blockchain. In general, the blockchain is suitable for public goods or services, which must therefore be handled in a transparent, decentralized way.
For example, the transfer of monetary value between different countries and different currencies: you could have IOUs issued and guaranteed by banking groups and placed on a circuit that automates their compensation. A similar situation is offered by Ripple, one of the distributed public ledger solutions alternative to bitcoin. It’s easy imagining a group of banks that share this idea, maybe utilising the concept in a different distribution.




It is recent news that thirty of the most important banks in the world have joined the R3CEV consortium. The goal is to make the public distributed ledger useful in the financial world traditional, going past scalability limits. Will Intesa Sanpaolo be there?


The event that you are describing is certainly the most interesting, if nothing else just for of the caliber of participants: Intesa Sanpaolo is considering whether to join or not and in any case it will be interesting to follow the work that will be done there. The performance limits of the current blockchain technology are intrinsic to the exceptional level of decentralized security: they can be mitigated or even improved by reintroducing a minimal centralization in the network. Along this path of centralization, however, you might find that the database technology has a competitive advantage. In recent months, the debate on the distributed records saw the opposition of public (no control, such as bitcoin) to private (controlled, as Ripple). It is open to question whether and how the private distributed registers differ from simple replicated databases.




What role could banks play in the blockchain ecosystem?


The stability of the financial market needs an influential player, able to provide adequate guarantees of reliability. Banks play this role in our economy, even if not flawlessly. The customer identification (for anti-money laundering and to fight of terrorism financing), being a ‘custodian’ for the whole system and granting its functionality, giving out credits, the market-making on financial markets: these and many other activities have the banks in leadership.
I don’t think the entry in the banking world of technology giants is imminent, although it should be noted that Apple capitalise about the same as the top 30 banks in the eurozone. Moreover, the British Bank Association wrote that “banks must agree to the fact that they are more and more part of a wide ecosystem that consumers themselves are building. Well, their role in the ecosystem is far from secure. ” A lesson has already been tried in other areas by leading brands such as Kodak, Blackberry or Blockbuster.

What is Intesa Sanpaolo doing right now? Between all the great international groups you are the ones with the most conservative public profile about it.



Our bank has been following the Bitcoin phenomenon since May 2014 at least. A study task force coordinated by our Chief Economist, Gregorio De Felice, worked six months involving all of the bank’s the different functions and summarised what should be the strategy guidelines for the group. In July, we responded publicly with a documented analysis to the “Call for Evidence” of the European Security Market Association. It is certainly a land where you need to move with caution: this is why we are evaluating with great selectivity a number of initiatives. I am confident that soon enough our operational choices will become more clear.
As of now bitcoin hasn’t really imposed itself as a currency for commercial transactions, not even online.
This because bitcoin is not a good currency for transactions, but rather a speculative investment. In the digital environment bitcoin it is more comparable to gold than to a currency, sharing with gold some severe limitations in the use. A good currency should have three characteristics: being a mean of exchange, utility conservation, unit of account. Bitcoin is unbeatable on the first two aspects: instantly transferable, divisible without limit, tamper-proof, non-perishable, with virtually zero cost of conservation, and it can be easily stored for later use.
The not so good sides of Bitcoin come out when analysing the unit of account: the currency, in general, is the good we reference when we measure the relative value of other assets. And a unit we use to measure. The value of each asset, however, is determined by the law of supply and demand: as the supply of bitcoins is deterministically fixed and completely inelastic, any change in demand is reflected in changes in value. The value of Bitcoin has appreciated by a few cents in 2010 to about $ 300 today (almost touching, with a frightening volatility, the level of $ 1,200 in 2013): this aspect makes the joy of speculators but makes it impossible to have stable prices in bitcoin, contract mutual, fix salaries or lock in forward prices.






In the recent years we’ve been hearing controversial things about e-money. So is bitcoin going to fail?


I wouldn’t talk about failure: bitcoin could be used, in the future, as a digital “gold reserve” asset for a next generation of cryptocurrencies with a flexible monetary policy, the ones i call “Hayek Money”. Gold was adopted without any central planning by all civilizations in the world, for its peculiarities (the fact that it does not rust and its rarity) and uses (jewellery and ornaments). The adoption of bitcoin is spreading in a similar way in the digital domain, without central planning, for its peculiarities (available in a limited non-alterable quantity) and utilities (transferable token can not be duplicated). The possibilities that are opening up in money’s history are extraordinary.

What exactly do you mean?



Money is a social relations tool and on it we’ve based the whole exchange economy. It was created by mankind to cooperate with those who are outside of the gift economy, a characteristic of the family and of close relationships. Gold has historically established themselves as a monetary standard: the minting of the coin from Caesar will initially only confirmed purity and quantity. Gold has been gradually replaced by notes, that were initially conceived as certificates that could be converted into gold, guaranteed first from private individuals and later by kings, governments and central banks.
Gold has been gradually reduced as a tool of monetary policy, due to the restrictions it involves: today we use fiat money (fiat from the Latin “fiat lux et fuit lux“), money without intrinsic value whose acceptability is based on a social contract which determines the legal tender. All democracies and developed economies have delegated the management of the currency and its stability to an independent central bank, to avoid abuses that governments could make.
The Blockchain technology has the opposite trend: for the first time after thousands of years it looks like currency can be used without Cesar controlling it.

We often hear about non financial uses of the blockchain: public vehicle record, land register, digital id certification, notary services. What is your opinion about them?



With the blockchain we have for the first time a digital token which can be transferred, but cannot be duplicated. This opens new scenarios: I have great interest and curiosity in the various proposals and I try to support their development through participation in AssoB.it, the Italian association for the promotion of the blockchain technology. But i must confess that for know i see bitcoin as the killer app in blockchain technology, like e-mail was for internet back in the 90s. There will certainly be in future businesses and services difficult to predict, like Google, Amazon or Facebook we some time ago. Personally i’ve yet to identify them.
In a time of growing demand for dramatically scarce blockchain skills, i’m afraid that Italian universities are not really being receptive. Luckly something is moving with the private research center BlockchainLab in Milan.

What could be the next big thing in the bitcoin/blockchain environment?



The digitalization of cash, which is in my opinion the most urgent and inevitable. The pros of bitcoin over cash are its traceability, transparency and the fact that it’s impossible to forge it. The blockchain could be for payment systems what was internet for communication and information.
Author: Massimo Chiriatti, technologist and member of Assob.it
*F. Ametrano is a leading italian expert in the field of coins often called virtual, mathematical or cryptographic. Professor at the University Milano Bicocca is also a member of the supervisory body of AssoB.it

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi