The Internet With One Currency. Bitcoin Says: Why No!

LONDON – We use the same network to exchange information, The Internet. We use the same social networks to share opinions and ideas, Facebook, Twitter, Instagram, Tumblr, etc etc. We use the same system to send documents and other files,  e-email. And we use one common language to chat from one country to another, from one side of the World to opposite side of the World, English. Why don’t we use the same currency to buy and to sell on The Internet?

 Every country adopts its own currency: Yuan for China, Yen for Japan, Real in Brazil, Ruble in Russia etc etc,  and the same is equal for particular groups of countries such as the Dollar for the United States of America and the Euro for European Union. But, if we used one common worldwide currency for our shopping on the Internet, how would the future of the currency exchange be? The answer could be ‘more simple’ but it’s easier said than done. First of all because there are many international interests between banks and credit card companies and secondly because each country or group of countries has its own interests to safeguard its own currency.

Meanwhile, there’s someone who is trying to change the economic system on the Internet with the Bitcoin. ‘Bitcoins are an anonymous, decentralized, peer-to-peer digital currency’ – how economic consultants explain the new coin. ‘In contrast to older forms of electronic money – they say -  no company controls Bitcoin, nor ever could: all the rules about how it works are embedded into the very operation of trade, including the rate of inflation and how to verify transactions.’

Why is  Bitcon “anonymous”? Because it doesn’t use a central system but it uses many databases around the Internet-sphere, like few banks branches but with no employees, and it uses a cryptographic system to preserve the data so that every owner can spend their own money.

Now, the question is: can Bitcoin become a worldwide Internet currency? Anticipating  the answer, in Vancouver, Canada, has opened the first ATM Machine which changes local money, Canadian dollars in Bitcoins: the kiosk works by scanning the hands to confirm the identify of the customer, because credit cards don’t exist in the Bitcoin-world  and moving their funds from their online wallet to their smart phone or new Bitcoin account. The costumer will be able to spend his Bitcoin on the Internet-sphere. What are the real benefits of this new system? First of all the customer can buy everything in every country of the world without changing the currency because of the knowledge that many Bitcoin can be used without paying any fees, because there aren’t international fees for the transaction from one currency to another and because it’s a closed system just for the Internet. The Internet has always been known as a virtual world but increasingly it’s becoming more and more a real part and central part of our lives. (A.A.)