Bitcoin, Crypto currency, Blockchain

PwC-Senior Manager: Bitcoin works as a means of payment

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Bitcoin brings the Potential to characterize completely new payment channels and types. The Roland Stadler, Senior Manager and Data & Analytics Specialist at PwC Switzerland, for sure. In a post on the PwC Website, he shows how crypto-currencies work as a means of payment, like Utility and Security Token being different from each other and why not just the Blockchain, but Bitcoin’s future is relevant.

Crypto many representatives of the traditional economy currencies are a thorn in the eye, whether by Central governments, Central banks or traditional financial service providers. The underlying technology of the Blockchain is, however, a rating of all these stakeholders as innovative and potentially profitable. Exactly this line of argument one often hears: Blockchain good, Bitcoin. As one of the few Apple co-founder Steve Wozniak, turned the tables once and claimed that the Blockchain is moving to a bladder, while he was convinced of Bitcoin.

Bitcoin as a universal means of payment, and the remaining tokens tend not to

Roland Stadler, Senior Manager of PricewaterhouseCoopers (PwC) in Switzerland, can’t understand why the Old Economy panders to the Blockchain and the Bitcoin frowned upon. So he puts in his Tuesday report, “the Blockchain, but not Bitcoin. Really?“ the rhetorical question of whether the Bitcoin would not have earned the right to be better evaluated.

He starts with a definition of the terms “crypto-currencies” and “Digital Assets” – the most crypto-Assets that are not currencies. Only Bitcoin and some other crypto would be needed currencies in fact, as a means of payment, as well as a payment network. Bitcoin operating for almost 10 years, was chopped never was – in contrast to many Fiat currencies – deflationary.

Most of the other digital Assets in Utility Token and Security Token are different. Utility Token describes Stadler as a fuel for a specific Blockchain Ecosystem. As such, he is called, for example, Ether, you’d need an application to perform on the platform Ethereum. Security tokens, on the other hand, securities in digital Form and serve almost exclusively to the Crowdfunding. Neither the Utility nor the Security Token acquired meanwhile, as a universal means of payment.

Stadler: the Blockchain, but not Bitcoin. Really?

While you can trade with all of the listed crypto-Assets, and to speculate, are the only true crypto-currencies, therefore, to the actual application. Utility and Security Token, which he sees as a “Venture Capital”, see Stadler, however, the impact of the Blockchain hype. As a means of payment only in Bitcoin and the law continues to work well. Range, speed, and transaction costs of Bitcoins are demanded from any other financial network.

“Small to the largest amounts can be within minutes and broadcast around the world. This creates currently, no other financial network. A retailer can receive without the help of a service provider, payments directly on their Tablet or POS system. In international trade, where in case of traditional payment sometimes very high transaction fees, Bitcoin can bring charges in the rap area, a significant cost advantage,“

it is stated in the report. Also on the scaling solution of the Lightning Networks, the hopes of many loads.

The bottom line is that the promise will be criticized “the Blockchain, but not Bitcoin” from Stadler, for he sees no Blockchain application, is as a means of payment, more suitable than Bitcoin. The development of Smart Contracts may in the future have a lot of impact, put, however, still in its infancy. The current ICO-Hype, you should look at carefully.

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