In today’s world, the increased connectivity provided by the Internet has changed the nature of financial transactions. With recent developments in social media, peer-to-peer software, and smartphone technology, we have seen the definition of money extend beyond the traditional, physical tender of government-backed currencies to include mobile payments, digital currencies, and virtual goods . Joining this revolution of payment technologies is Bitcoin, “the world’s first completely decentralized digital currency”, created by an unidentified programmer named Satoshi Nakamoto in 2008.
An estimated 80,000 businesses already accept Bitcoin today, and not just as a marketing gimmick. Why not yours?Forward-thinking merchants of all sizes around the world are glomming onto the hot Bitcoin payments trend, many of them to cut costs and boost their bottom line, says Adam White, director of business development and strategy at Coinbase.The 1.6 million-customer San Francisco Bitcoin exchange and wallet service processes Bitcoin payments for some 36,000 companies and growing. Among them are Overstock.com, OkCupid, 1-800-Flowers, DISH Network, and several other big-name early cryptocash adopters.