/biz/ - Business & Finance

Timelines are being adjusted. The conversation with digital currencies is often about speed and scalability, with speed measured in point of sale transactions per second. Systems and concepts are usually measured using this metric and then compared to traitional financial giants like Visa and Paypal. Traditionally, the quest has been about devoloping a digital currency system that could finally scale as big as the large multinational credit giants and handle the transactions per second required to maintain all of their consumers and spending needs. Have you noticed how the conversation has now changed? It is no longer about trying to match the payment handlers like Visa and Mastercard and their 1700 transactions per second in order to support the existing system. Now the conversations taking place are about the need to handle the tens of thousands of transactions per second necessary to accomodate the millions of users across the globe that aren't part of the current banking/financial system. Who are all these people and where is all this massive projected growth supposed to come from? They're not coming from the traditional places that probably come to mind. Digital currencies are becoming hugely popular in South America and Africa. These often overlooked regions of the world consist of very large populations of people that have virtually no experience or participation with the present system. Plans have been made and obviously preperations are underway. Are you coming with us?

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