Electronic Currency also known as Electronic money, E-money, Electronic Cash, Digital Money, Digital Cash or Digital Currency.It refers to money or scrip which is exchanged only electronically. Typically, this involves use of computer networks, the internet and digital stored value systems. Electronic Funds Transfer (EFT) and direct deposit are examples of electronic money. Also, it is a collective term for financial cryptography and technologies enabling it.
How Do The Existence of E-Currencies Mean Good Profit ForR You?
---------------------------------------------------------------
Multinational corporations, small businesses and individuals regularly
exchange e-currencies with each other in other buy and sell
their goods and services across the widest possible economic and
Geographic borders. In 2004, about 1.9 TRILLION US dollars worth of
e-currencies was traded DAILY by trade merchants and individuals ,over the Internet.
Most e-currency trading across 129 geographical locations worldwide is
managed by a Company called Global Digital Transfers Inc (based in
Vanuatu), which maintains the intermediary e-currency DXGOLD, and
recruits individuals to manage, invest and profit from its vast daily exchanges.
DXGOLD is 100% secure, and loss-proof.
Bitpass was an online payment system for digital content and services. Kurt Huang was a co-founder; Doug Knopper was hired as CEO in November, 2005. Bitpass was a California corporation with headquarters in Silicon Valley. It was founded in December, 2002 and partnered with major technology and financial services companies such as Micr
osoft, PayPal, the Royal Bank of Scotland and First Data.
osoft, PayPal, the Royal Bank of Scotland and First Data.On January 19th, 2007 Bitpass announced that they were shutting down, and operations officially closed on January 26th, 2007. No immediate reason for closure was given.
For the content buyer, Bitpass worked like a pre-paid telephone card: the buyer signed up for the service
and put money into an account using a credit card or PayPal. This stored-value amount could be used to purchase digital content or services.
Transaction fees were paid by the content provider. For payments under $5, the charge was 15% of the price paid by the buyer (Bitpass Professional merchant account fee).
The Bitpass system allows you to control access and authentication to protected content. Using a series of web services, you can determine if a customer/subscriber has access to a set of web pages or content. Sell and control access to protected content from your own website. Now includes DRM services for selling protected media content.
BitPass will Fail?
BitPass will fail, as FirstVirtual, Cybercoin, Millicent, Digicash, Internet Dollar, Pay2See, and many others have in the decade since Digital Silk Road, the paper that helped launch interest in micropayments. These systems didn't fail because of poor implementation; they failed because the trend towards freely offered content is an epochal change, to which micropayments are a pointless response.
The failure of BitPass is not terribly interesting in itself. What is interesting is the way the failure of micropayments, both past and future, illustrates the depth and importance of putting publishing tools in the hands of individuals.
sign-up forms, flaky business models, mandatory plug-ins, blood-sucking hook-ups to bank accounts, vendor start-up fees, greedy profit splits, etc. Some even claimed to offer "micropayments" while refusing to support transactions below 99¢.
Another factor contributing to micropayments’ dismal first round was the simple fact that until very recently, few users were willing to pay for content while they still felt that they were paying with their time. Without broadband, the climate for paid content was hardly hospitable.
No comments:
Post a Comment