Automatic Payment With Bitcoin

Automatic Payment With Bitcoin

Have colleagues ever imagined what if there is an internet service paid per kilobyte of data used instead of its per hours or per gigabyte? Of course, require a very small payment unit to 1 rupiah if possible. Then how to pay it? Of course, there is no physical money unit that can be used. But Bitcoin can do it. One of the uniqueness of Bitcoin digital currency is its unit of currency value which can be calculated up to very small units. As an illustration of 1 bitcoin can be split into 1 million micro coins (the smallest unit), so payment for a very small price can be done with Satoshi Nakamoto’s technology findings. In the transfer process Bitcoin, there is a special technology called double signature. These double signatures can simply be understood as multiple safeguards in case of transaction problems by two parties. In a transaction can appear a trusted third party and guarantee the transaction goes well. When there is a problem between the 1st and 2nd parties, the nominal bitcoin transferred can be dipped if the 3rd party does not provide confirmation through the dual signature feature. In addition to the use of Bitcoin on a corporate scale, the use of multiple signatures may prevent misappropriation of funds by a member of the corporation if done with us at bitcoin wallet Australia.

Now the automatic payment system is starting to be widely applied in some developed countries. This system allows the payment of a service or goods to take place automatically through a special tool or method of reducing the deposit. Some services that are often encountered with this system that is parking system, fast food, counter modes of transportation and others. Here Bitcoin runs digitally and can be configured with an electronic wallet (a Bitcoin storage device). If it can be applied to the maximum, maybe we will rarely see the payment queue because the process runs automatically. Interesting right? Admitted or not, the innovation of using Bitcoin has indeed become one of the potential payment systems. If it is well managed and refined, it is not impossible in the foreseeable future Bitcoin will start shifting the role of physical currency.

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