Crypto-Currencies as Medium of Payment
The BitShares Blockchain Foundation is pleased to announce a new paper that compares the commonly used concepts of achieving price-stable crypto-currencies. The paper was written as an entry-point for interested readers to understand the basic aspects. With this, we hope to clarify the differences, individual risks and opportunities for price-stable crypto-currencies in the blockchain space.
Abstract
With the current growth of the crypto-ecosystem in general, and the growth of crypto-currencies like BTC (Bitcoin Blockchain) and ETH (Ethereum Blockchain) in particular, the general public as well as traditional (old economy) markets finally take notice of blockchain technology and its application(s) in the financial technology and other sectors.
A well-known obstacle to greater adoption of crypto-currencies like BTC as a medium of payment is the high volatility of its exchange value, due to its limited supply. As a consequence, the unit price varies (sometimes significantly) over short periods of time. This makes BTC unpractical for merchants that need to pay their suppliers in cash - especially in bearish markets where this currency risk can ruin a business.
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Thanks Fabian. I will read this with great interest.
Nice
This article should be in forbes, not on steemit :)
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Volatility isnt a problem since you can easily convert BTC into USD with great exchangs such as BitShares but cryptocurrency such as BTC arent suited for transfers. Bitshares & zCash does. Count ~6M users for a stable currency.