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The Netflix Executive Desires Bitcoin as Global Currency!

At the Citi Internet, Media and Telecommunications conference, David Wells who’s the Netflix Chief Financial Officer had spoken his sanguinity towards the Bitcoin and also on how it is molding to become the global currency of the most significant industries. And according to Market Realist, a well-known investment research establishment in which had covered the event, David Wells acknowledge that “It definite would be pleasant to have the Bitcoin in requisites of a global currency that you could use internationally.”

In an instance why the Netflix is fascinated in the Bitcoin? Shirley Pelts, an MR researcher elucidated in a 5-part series in which has been entitled “Tools in Netflix’s Wheelhouse to Meet International Challenges,” at this moment Netflix is actively looking into the Bitcoin payments due to increasing cases of fraud and also criminal activity revolving around the gift and the prepaid card payments. In disparity to several streaming and digital content distribution networks, Netflix has even provided both its users and content creators with a broad spectrum range of payment choices and beyond the traditional field of banking and credit card payments.

For a case in point, the users right from the under-banked countries such as Argentina and India or the users under the age of 18 that indecipherable for any single bank and credit card applications can certainly purchase a variety of gift cards right from the physical locations such as the gasoline stations and also convenient stores to pay for the Netflix services.

In the year 2015, month of June, Libran Research and Consulting and prepaid commerce solution provider CashStar co-released a study in which entitled “Gift Cards Through the Eyes of Consumer,” to explore and analyze the ecosystem and also the industry in which surrounding it cards distributions. Right in its research, there are two research in which that stated that the gift card sales had surpassed the $129 billion margin in the year same year of the previous research, in which showcases its hasty growth and development as evaluated with the other conventional payment means in which includes the credit and debit card services and providers.

On the other hand, compared to several other financial tools, a rapid augment in growth also relates to a mounting quantity of fraud cases, due to the surfacing of hackers and criminals in which are trying to bypass the system. Tony Martin-Vegue in which is a security veteran and a cryptography expert who wrote in a study that bypassing gift card security and fundamentally double spending its balance is not that complicated operation and can also be accomplished with practically superficial knowledge of security. And Tony Martin-Vegue uttered that, “This particular type of fraud is comparatively a low-level and does not result in a massive loss right to a merchant, but also it is quite a shock to the consumer when the receiver of a gift card tries to redeem it and finds that the balance of it was zero.”

As a response to these scenarios, the Netflix team and CFO David Wells are looking into the Bitcoin in which can also be considered as a more convenient and cost-efficient alternative to gift cards.

The Live Streaming Video Platform “Twitch” Brings Back the Bitcoin Payments Together with Coinbase!

The Amazon-owned live streaming video platform the Twitch in which is an integrated Bitcoin back in August year 2014 has started to offer and serve the Bitcoin as a payment option in their choices of payments using the Coinbase payment processing gateway since the 21st of August year 2016.

It was already two years ago when the Twitch made a joint venture with the gaming payments giant the Xsolla to offer and successfully provide various payment options right to its users and gamers. Even if the Xsolla network users were able to support and yet also assists their favorite gamers and streamers with the utilization of the Bitcoin, in which requisites them a significantly small transaction cost of fees and the processing time was quick and much easier being compared with the traditional forms of payments. Nevertheless, as the Xsolla development team had eliminated the Bitcoin right from its payment network, the Twitch users were also being disallowed right from using the Bitcoin at the exact and same time. The certain incident of turning down and exclusion of the Bitcoin as payments had brought exasperation with several users and gamers on the network; significantly the patricians of the live streaming video platform in which was the Twitch, who had no accessibility within the conventional forms of payments such as the credit and the debit cards.

The regular address deposits has been enabled; and for the past 24 months and counting both of the gaming as well with the Bitcoin communities and societies grasp a tight grip of pressure that eventually set an urge right with the Twitch to bring back and integrate the Bitcoin payments to be assists and at the same time help the gamers and the streamers get a better practice on monetizing their digital content. With this certain contempt of the requests right from the two communities and societies has been thornier for the Twitch to be able to pull out and execute such integration due to the fact of involvement with the respected website in which is the Amazon that right at this very moment serves as its parent company. And finally, the Twitch had reintegrated the Bitcoin payments back right into their system in which successfully been delivered and slated on the last 21st of August with this very same year of 2016; all the way through with the Coinbase. And more interestingly and captivating, the platform has also enabled the average address deposits in which allocating and gives the users the rights to sent the Bitcoin transactions directly right from their very own wallet en route to the Twitch platform in exclusive of dealing together with the third-party payment platforms and the processors.


Now Accepting Bitcoin Donations: Major Tech YouTube Channel Hydraulic Press

The Hydraulic Press Channel is one of the most known and favorite technology-centered YouTube channels with over 1.5 million of subscribers has started to recognize Bitcoin donations through the assistance of the ChangeTip.

Since the prologue of YouTube’s new regulations and policy in which regarding to the community guidelines, the facilitators of the channels, even the principal channels with millions of subscribers, begin to feel the struggle upon monetizing their content. Various favorite YouTube channels launched and also released GoFundMe campaigns after failing to attain adequate funds to back up and support its content. The average CPM rate of the YouTube videos was estimated at over $2 US dollars that enables the creators to earn over around $2 per thousand views. That apparently means a YouTube video with over million of views will make over around $2,000 on average. Hank Green of the CrashCourse explains further with the issue, “Sometime in the last year, my YouTube videos received their billion views, at the average of YouTube ad rate of $2 per thousand of views and a $2CPM, in which is around and over $2 million in revenue from the advertising over the last eight years.”

Bitcoin could significantly change YouTube content monetization mechanism, while there are some channels that distribute their daily content and generating millions of views per day, some of the well-known and popular channels release one of two videos per week in which leaves the creators with over around of $2,000 to $4,000 to cover the various costs in which is involved in creating a viral video. Therefore, the traditional and known YouTube channels that bring out millions of views per video may conduct as low as $8,000 US dollars up to $10,000 US dollars per month.

For several channels that opt for stern content and high definition of quality videos, the budget is nowhere sufficient. Let us take traditional and known daily blogger Casey Neistat for example. Neistat facilitates over around 12 up to 20 devices to shoot each and every single blog from different angles for the highest quality possible. From drones over to the microphones, YouTube content creators deal with a very long list of expenses that total average viewers may fail to recognize. To support this financially, the YouTube income may not be enough for this.

The Bitcoin, however, could have passively changed the entire monetization mechanism utilized by the content creators today. Contrasting with the PayPal and any other traditional forms of payments, the Bitcoin offers substantially low transaction fees. Therefore, the content creators could take and accept Bitcoin donations to the top of their YouTube payouts and to support their channels financially at the same time without the worries of any major issues. The Micropayment channels similarly the ChangeTip enables small-sized channels to the major YouTube channels to accept and also take Bitcoin payments with effortlessness and ease without integrating the specific software or even platforms. The acceptance of the Bitcoin by the popular and favorite YouTube channels like the Hydraulic Press sets a positive model for the other content creators on the YouTube, as well as the other global video sharing platforms.

Cambodia: Bitcoin’s Mass Adoption Still in the Outskirts!

Cambodia is a country that certainly uses multiple currencies and also may hold the key into mass adoption of the Bitcoin. Cambodia uses dollar sets as the main reasons were there is a multi fold. And also one of it was the prices are extremely low, and a dollar can purchase you a nearly 6 to 7 pastries at the local bakery. Second is there were no coins at all, in which means that while you pay in the form of dollar, you can get back your change in the form of Cambodian Riels. And it really seems like the 1 dollar is about the summation of around 4000 Cambodian Riels. While at first getting your change back and also doing the mathematics maybe puzzling, you can also get used to it as the time goes by. In the most non-touristy shops the prices are marked in Cambodian Riels. Divided by into 4000 and you can pay in form of dollars or you can also simply shell out the Riel. Of course at the ATM, you can get either of the two, Riels or dollars; but most ATM’s simply emit dollars. A sort of a big problem though it remain getting change for bigger dollar bills. And if you carry out around the denomination of hundreds that you have freshly withdrawn right from an ATM, it will certainly send you on a struggling point over the time.

Cambodia perhaps is the one and only country in the entire world with its doubtful distinction of blowing up of the national bank. And certainly there are several readers would adore the idea that the national banks just vanish. Well, over time to time, it has certainly happened in there. As The Banque Nationale du Cambodia or The National Bank of Cambodia was established in the year of 1954 and begun printing the Riel to be able to end the monetary alliance between Vietnam and Laos. Nevertheless, the bank had met a repugnant end in the year of the 1975, at the time it is blown up with explosives done by the notorious Khmer Rouge. And their symbolic destruction of the national bank also but put a teary end to use of the Riel as their main currency. And when the Khmer Rouge was driven out by Vietnam and Riel was also reintroduced and a central bank had managed to reformulate right from scratch. And it was only after the United Nation came in and ran the country for a while in the year 1990s that certainly reintroduced Riel lost its market value as the piles of dollars made their path right into Cambodia.

There is conceivably a case to be made for the multiple currencies. And it is undoubtedly convenient as you do not have a constantly exchange money. The Indian Rupee as a firm example is broadly used in Nepal and Bhutan together with their local currencies. The people also get a factor of choice. The Bitcoin absolutely was an ideal candidate, above all. It is easily transferable, completely global and has also proven to be a sound digital currency at the period of time when it came into its being. We can also indeed learn a lot right from the experience of the countries that have multiple currencies. The cash registers and the ATM’s can be adopted into giving receipts in the form of Bitcoin and local currency. And you could probably even eliminate the hassle of change by utilizing the Bitcoin and like in Cambodia, there are even potential of employment generations as numerous mother and father small exchanges actively give out one currency for one and another.

The CEO of the Bank To The Future, Simon Dixon ricochets the possibility of a certain period of time when several people will hold on to dual currencies, as he utters, “As the government's keeps on going with their war on cash, most fiat currencies will be going completely digital.” He also notes and actually adds up when he says that, “While the digital embodies convenience, it will certainly come with numerous features in the near and approaching future that may or even may not encourage their usage such as an automated tax collection and also the capability to switch on and off your funds that they should choose. And this is accelerated if the central banks have begun issuing digital fiat. The Bitcoin is a bearer asset above all similarly to cash in which is entirely owned by the user with no sign of the counterparty jeopardy. As the physical cash becomes less relevant due the fact that to the government’s war on cash, mostly believes that the individuals will keep some of their funds in the form of the digital fiat and some are in the Bitcoin all the way throughout the exchanges and mostly certainly deems that many of the digital fiat and a portion of their wealth will be stored in the Bitcoin in which is utterly owned by the individual.”

There is one more possibility as according to the Strength of Numbers Foundation, David Duccini, as he observes that the Caribbean countries are dealing with both of their local currency and the dollar, as he explains his side at, “You could produce a paper currency based on a public Bitcoin address that could be instantaneously verified as having an asset worth but also would be concurrently accepted at a bank branch right for the conversion into a fiat demand and as long as the local branch could also present the certificate for the redemption and also achieve the access into the private key.” And possibly it is the very best way to bring the Bitcoin right into the masses to be able to have it alongside a fiat currency and just let the people select their choices. A task perhaps is easier it attain right in a progressing country like Cambodia where the people are already used to multiple currencies than in the developed world.

The Legality of Bitcoin in Zimbabwe Does Not Fond in Multi-Currency

One tricky question that lingers around in Zimbabwe was how legal and useful is Bitcoin in Zimbabwe as the country has been facing difficult economic circumstances for over decades? The South African country has several issues right with its currency that has almost brought it to its knees. And it has found it severely hard to move forward with the prospective to revive the economy.

As according to the compliance officer at the Bitfinance, Simbarashe Machiridza, in which the company is an exchange that serves users all across Africa, as the Bitcoin use is legal in Zimbabwe but it is not a legal tender, as that is and it is “… Even though it is not against the law to have the Bitcoins in your pockets and no one is legally obliged to accept the Bitcoins as means of payments for a debt, goods and even services. In other words, you cannot force anyone to accept your payment if you are paying them in the form of the Bitcoins.” Zimbabwe has been flaunted to be a ripe destination for the Bitcoin. But there is so much changed for the country in the last five to ten years and the circumstances appears to be degeneration. The Zimbabwean Dollar denomination had already rose to have 100 trillion dollar bill just to be able to become a note together with the most zeroes of any single legal tender in documentation of the history. The bills in which has still auctions right in the eBay in which has circulated for few months in year 2009 at the moment when the country had experienced one of its roughest hyperinflation in its history with the summation of $1 charging for trillions of Zimdollar.

As an outcome of the deteriorating economic prospect, Zimbabwe in the past had introduced the multi-currency regime where it recognized for over nine foreign currencies as a legal tender in which are the United States Dollar, South African Rand, Botswana Pula, Pound Sterling Euro, Australian Dollar, Chinese Renminbi, Indian Rupee and the Japanese Yen. It is worth noting that whilst these certain adopted currencies belong to a certain countries and therefore are governed by the laws that had put forward by their home economic precautions in their respective countries and the populace in these countries are now trading in an exchange for the Bitcoin almost on daily fundamentals. While the circumstances has become precarious for the citizens of the country and also the laudable Bitcoin-related initiatives are being brought into the table and offered, and it is presented the country as an enormously fascinating location right for the digital currency to burgeon as it has indications of making life much easier for the general public.

Going by the words of the Co-Founder of the Chankura in the South Africa, Thabang Mashiloane in which the Bitcoin can empower every single being in the Africa in regardless of their financial status or even their educational background to be able to join right in the global financial markets and by a means of purchasing the stocks in the Wall Street, numerous Zimbabweans could entirely reached out to the outside world and yet also be capable to draw the flow of the foreign trade into their economy. Just Thabang Mashiloane that who always utters that an African farmer can be able to trade freely without any single jostle with anyone in the whole wide world in utilizing the Bitcoin and their smart contracts for escrow services, right then Simbarashe Machiridza touched on the side of the need for the regulation of the Bitcoin as a major factor to move its adoption kept moving forward and onwards.

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