According to Wiki CryptoCurrency (or virtual currency) is a type of digital currency that relies on cryptography, is peer-to-peer, and decentralized.
Though it is hard for us to imagine using a peer-to-peer type of currency, cryptocurrencies such as BitCoin are becoming main stream.
At one of the conferences organized by MIT-Stanford Venture Lab (VLAB) on June 18, a group of panelists (pictured below) shed light on why virtual currencies can be a game changer and how they can create a plain field in the e-commerce industry allowing buyers from various geographies to buy things from anywhere in the world.
Virtual currency is particularly interesting for us at ManyShip as we try to grow our platform to the various other countries of the world, such as India, China, Indonesia, countries in Europe, etc. Each of these countries have a different currency system, and dealing with various payment providers, merchant fees, cultural issues can be challenging. We would hope that virtual currencies become more popular and more businesses accept them so that users have more buying power. In addition users would be able to buy things that they previously couldn’t due to exchange or currency issues.
You can also read more about this BitCoin conference here.
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