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| title | "Do cryptocurrencies have future? Specialists say: Yes" |
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| body | "
The Internet has caused a real revolution in the contemporary world. As the Internet advances and surpasses all expectations, companies and organizations use this technology to innovate and market their products and services. Electronic commerce has been a determining factor for the emergence of small businesses and large conglomerates that take advantage of the benefits and challenges that the Internet can provide. This is especially true when it comes to the development and marketing of products and services through the Internet. Even one of the best examples of this accelerated change has been the emergence of the digital currency for exchange.
However, the full adoption of this virtual currency has had important detractors; by now the biggest challenge for the full adoption of what is technically called crypto coins has been its widespread adoption by terrorist groups, drug dealers, human traffickers, extortionists and any other group that can operate outside the law. All this makes up what is known as clandestine economy. Virtual currencies or cryptocurrencies have proven to be a very useful way of hiding profits and illicit business from the prying eyes of governments around the world.
That can all change, and soon. The Port of San Francisco, like many international ports and transportation centers, is considering the use of digital coins in its payment structures because it sees them as an option for the future.
Thanks to Marcus Andrade, who met with the port leaders in early September, he could soon do so.
Andrade is an enterprising entrepreneur in the technology industry and focused on virtual currencies. His company AML Bitcoin, has developed systems to avoid misuse of bitcoin as payment method in transactions with large scale. He and port officials are currently in discussions looking for ways in which the port could use digital currency as a secure means of payment and according to United States laws. Andrade and many other entrepreneurs of cryptocurrency technologies have worked hard to provide security and efficiency to users of bitcoin and other virtual currencies. In its system - where AML stands for Anti-Money Laundering - digital dollars meet the standards used by the US banking community and are currently looking to rid digital coins of a bad concept.
"The digital currency creates economic and social possibilities that could not even be imagined 15 years ago," Andrade tells me. "Just as the Internet offers unlimited opportunities to the remote corners of the earth, the digital currency offers every individual the opportunity to participate in the global economy, if they wish." With AML Bitcoin, the digital currency can now participate in the mainstream, taking its rightful place among traditional payment options, "said Marcus Andrade
The other digital coins, have a great advantage and also a great disadvantage; "Anonymity", this is its most prominent feature, especially bitcoin. As the use of digital currency becomes commonplace in private sector trading and by governments, which will accept it as a medium of exchange, the anonymous feature will be the fall of anyone currently in use. AML Bitcoin, which opens publicly on October 1, 2017, has attracted intense government interest precisely because it is different from the others currently in use.
"San Francisco is a very advanced city in technology and at the port we will certainly explore all the opportunities to effectively use state-of-the-art technologies. We anticipate evaluating new cryptocurrencies that are compatible with AML as presenting potential opportunities which would benefit the port and its customers, "said Leslie Katz, a port commissioner.
Katz and other port commissioners must be alert to safety and concerned about the prevention of criminal activity. The anonymous nature of digital coins - in particular their failure to comply with bank security - has generally left them hesitant to move towards adoption. Andrade's anti-money laundering technology can be the bridge that bridges the gap.
If the port of San Francisco adopts AML Bitcoin as payment method, it would be a historical fact that would give the port of that city a great technological and financial advantage with respect to other ports in the world and of course, would be a great step towards the legitimation of the digital currency. San Francisco is, along with Los Angeles / Long Beach, San Diego, Oakland and Seattle-Tacoma, considered to be major ports in the world of maritime commerce, in addition, they form the first line of defense in the West of the United States against terrorism.
Meanwhile, Andrade, has been in contact with the heads of other ports of the west coast of the United States, believes that all of them will become enthusiastic adopters of AML Bitcoin. The US Department of Homeland Security would probably also be interested in this, given the innovations it brings to digital currency technology.
It has even been commented through various media that members of Congress are considering the possibility of drafting legislation allowing for a wider use of digital coins in everyday corporate transactions if they comply with existing banking standards as it does AML Bitcoin. Japheth Dillman, a technology industry informant and an investor who is advising Andrade, believes that all this openness to cryptocurrencies in international trade will revolutionize the world of digital currency.
If AML Bitcoin and other digital coins manage to scale to use in extremely important places like the port of San Francisco and other similar places, will begin a stage of acceptance and growth in the use of bitcoin and other cryptocurrencies, including blockchain technology underlying their innovative algorithms could, according to some experts, transform industries more quickly and completely than anything since the advent of the computer." |
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hiveblocks