2023 Fintech and Financing Conference & Expo

Is Dogecoin a better currency than Bitcoin? The future of payments is digital

Kitco | David Lin | Dec 29, 2021

Jason Butcher future of payments is digital 1 - Is Dogecoin a better currency than Bitcoin? The future of payments is digital

“I think 100% [of our daily transactions] will be transacted with crypto or with digital currency. A digital form of transaction will be 100% of [the future adult’s] life,” Butcher told David Lin, anchor for Kitco News.

In this case, cryptocurrencies simply record a transaction between two peers and act as a form of barter, Butcher said.

“For example, you and I decide to trade value, and you’re holding Bitcoin, and I’m going to be providing you a service, I’m going to be selling you a product, I’m exchanging that value with you, and we’re basically using a barter dollar, which in this case is Bitcoin. So, it’s a digital form of transaction that’s recorded on a blockchain that’s saying, you and I are deciding to transfer value between each other. I’m just using Bitcoin as that record of transfer rather than a Canadian dollar, or euro, or say, gold and silver,” he said.

CoinPayments is a platform that facilitates commercial transactions using cryptocurrencies.

“CoinPayments is similar to a payment gateway platform that you might think of traditionally from a Visa or MasterCard. The difference is that our gateway technology solution supports merchants with accepting crypto as a form of payment,” Butcher said.

The coin with the largest volume of transactions on CoinPayments continues to be Bitcoin.

There is a transition, we’re seeing more stable coins like USDT. Last January we saw about 5% to 10% of transactions in USDT, and now we’re seeing 25% or higher. Bitcoin used to be about 90% and today we’re seeing about 50% to 52%,” he said.

See:  Paying for coffee with crypto? Get ready, the future of payments is already here

Influencers like Tesla CEO Elon Musk have stated that Dogecoin could be a superior form of payment than Bitcoin.

“Even though it was created as a silly joke, Dogecoin is better suited for transactions. The total transaction flow that you do with Dogecoin is… transactions per day has much higher potential than Bitcoin,” Musk said in an interview with Time Magazine.

Butcher responded to Musk’s comments by saying that Dogecoin is not unique in its properties as a potential form of payment.

Continue to the full article --> here


NCFA Jan 2018 resize - Is Dogecoin a better currency than Bitcoin? The future of payments is digital The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Is Dogecoin a better currency than Bitcoin? The future of payments is digitalFF Logo 400 v3 - Is Dogecoin a better currency than Bitcoin? The future of payments is digitalcommunity social impact - Is Dogecoin a better currency than Bitcoin? The future of payments is digital

Support NCFA by Following us on Twitter!







NCFA Sign up for our newsletter - Is Dogecoin a better currency than Bitcoin? The future of payments is digital




 

Leave a Reply

Your email address will not be published. Required fields are marked *

eighteen + 6 =