It's clear that Bitcoin has a tremendous amount of popularity behind it but does this necessarily speak true to its user base? It's worth keeping in mind that there are various ways in which digital money can be distributed from one transaction to the next. PayPal is one great example of this. However, it appears as though the age of digital money is going to be changed further, as an upcoming debit option will, more likely than not, garner the attention of various names in finance, Bobby Jain included.
For those who do not know, Xapo is a company that offers online bitcoin wallets. An article on Wired said that Xapo is about to expand its reach by introducing the first debit card that would allow users to spend their bitcoins like actual currency. It is important to keep in mind, though, that this feature is only limited to locations that except MasterCard and Visa. If you did not believe that the age of digital money was upon us before, it is likely that you will see it that way now.
The idea of linking one's bitcoin account to an actual card to swipe is brilliant, to say the least, and will certainly go over well with various customers. After all, you do not want to be limited as far as places to spend money are concerned. What Xapo is looking to do, from my perspective, is bring the idea of bitcoins to another level and it definitely seems as though this will be the case in the future. Given the fact that Xapo has $20 million in VC funding, expectations are undoubtedly high.
The article made mention of the fact that every bitcoin customer, if they take up this option, will have only one debit card that can be used with as few restrictions as possible. To say that this is a positive nugget of news would be an understatement, which is a point that Bobby Jain could agree with. If you'd like to know specifics, the number on the credit card can check into Xapo in order to verify that sufficient funds are available. Names along the lines of Jain will attest to the fact that this concept is, on paper, quite sophisticated.
I have to believe that, in time, this option will be able to gain the greatest audience possible. Bitcoin users - just like anyone else- desire accessibility and it seems like this option will be one of the best moves that Xapo could make. Is it possible that this audience will be found at the onset, though? It's unlikely that this will be the case but, if the concept proves effective in practice, I have very few doubts that this will gain greater amounts of traction.
For those who do not know, Xapo is a company that offers online bitcoin wallets. An article on Wired said that Xapo is about to expand its reach by introducing the first debit card that would allow users to spend their bitcoins like actual currency. It is important to keep in mind, though, that this feature is only limited to locations that except MasterCard and Visa. If you did not believe that the age of digital money was upon us before, it is likely that you will see it that way now.
The idea of linking one's bitcoin account to an actual card to swipe is brilliant, to say the least, and will certainly go over well with various customers. After all, you do not want to be limited as far as places to spend money are concerned. What Xapo is looking to do, from my perspective, is bring the idea of bitcoins to another level and it definitely seems as though this will be the case in the future. Given the fact that Xapo has $20 million in VC funding, expectations are undoubtedly high.
The article made mention of the fact that every bitcoin customer, if they take up this option, will have only one debit card that can be used with as few restrictions as possible. To say that this is a positive nugget of news would be an understatement, which is a point that Bobby Jain could agree with. If you'd like to know specifics, the number on the credit card can check into Xapo in order to verify that sufficient funds are available. Names along the lines of Jain will attest to the fact that this concept is, on paper, quite sophisticated.
I have to believe that, in time, this option will be able to gain the greatest audience possible. Bitcoin users - just like anyone else- desire accessibility and it seems like this option will be one of the best moves that Xapo could make. Is it possible that this audience will be found at the onset, though? It's unlikely that this will be the case but, if the concept proves effective in practice, I have very few doubts that this will gain greater amounts of traction.
No comments:
Post a Comment