The emergence of the concept of Bitcoin in the world of online gaming and online investment will eventually become an acceptable online currency in the future. Though, the currency is still in a murky status at this time in terms of acceptability in the mainstream financial banking. But if we look at the bright side of e-marketing and e-business, Bitcoin concept of e-payment can be helpful in the future of virtual and online business.
If we can observe the chronological history of the mode of payment or buying and selling, we can ponder the concept of “barter trading” were by buying and selling does not involve any monetary instruments but rather exchanging the real physical goods with other basic commodities. With this concept we can conceive that commerce and trading has its own evolution. The fact that most of the business transactions are in the internet and cloud computing using Bitcoin in the future is a lucrative business idea and innovation.
On the contrary, looking at the case in a conservative side, we can conceive that hacking incidents are common negative scenarios granting that the technology is still new to the market. But if the world trading protocols will finally accept the Bit coin currency then virtual payments will eventually be a reality. Maybe in the future the physical “money” that we are enjoying these days will all be put in the history of mankind.
One may say, virtual currency exchange is not possible because virtual investments do not yet exist. But if we try to realize the knowledge being contributed by the internet, one website account may be a reach knowledge resource in the future. Take for example the online research websites; the content of such website will be valuable in the future as a resource for another research. Not only that, a lot of business transactions across the internet will rise in the near future and Bitcoin will not only give convenience to the online traders but also assurance and safety.
One of the negative issues being circulated in all online articles is the vulnerability of Bitcoin to Hacking and Piracy. Thus, Bitcoin concept of online business payment transaction is not yet accepted in the main stream business trading because its online security is not yet that secured. But I believe, that in the future if the world traders will find the significance of using Bitcoin in transacting business then the governments around the world will eventually find a way to secure this innovative idea of online payment and trading.